GFM Network News


File photo of cattle grazing on Prince Edward Island. (ArodPEI/iStock/Getty Images)

Eastern drought zones set for livestock tax deferrals

Regions designated in P.E.I., N.S., N.B., Quebec

In a decision that may have come late for some, New Brunswick, Prince Edward Island and parts of southeastern Quebec and northwestern Nova Scotia have been declared drought zones for eligible livestock producers’ 2020 tax purposes. The federal government on Monday released its list and map of prescribed drought regions where tax deferral on sales […] Read more

More tax deferral zones announced for ranchers

More tax deferral zones announced for ranchers

Final list released for 2019 tax year

More ranchers who were up against a dry 2019 may now be eligible to defer some income from their livestock sales for the income tax year. The federal government on Tuesday released the “final list” of designated regions where income tax deferral on sales of breeding livestock has been authorized for 2019. In a prescribed […] Read more


Agriculture and Agri-Food Canada’s final map of designated areas for the livestock tax deferral provision for the 2018 tax year, as of Jan. 30, 2019. (Agr.gc.ca)

Livestock tax deferral map expands again for 2018

Some northern and southwestern Ontario producers who had to sell breeding livestock due to drought in the 2018 tax year can now defer chunks of the income from those sales when filing their income taxes. The federal government on Wednesday rolled out its final list and map of designated regions for 2018 under its livestock […] Read more