GFM Network News


Brandon-Souris MP Larry Maguire speaks to Bill C-208 on Nov. 25 in the House of Commons. (Video screengrab from Parl.gc.ca)

Tory MP’s bill on farm transfer tax treatment moves ahead

Private member's bill now awaits Senate approval

A Manitoba Conservative MP’s bill to standardize the tax treatment for sales of farms and other small businesses has cleared the House of Commons and is en route to the Senate. Brandon-Souris MP Larry Maguire’s Bill C-208, which was introduced for first reading in February last year, passed third reading in the Commons on Wednesday. […] Read more

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


Tax credits available for cereal checkoffs

Tax credits available for cereal checkoffs

Reading Time: < 1 minute Cereal farmers who pay Alberta Wheat’s and Alberta Barley’s checkoff are eligible for Scientific Research & Experimental Development Fund (SR&ED) tax credits. For wheat, the tax credit is 31 per cent while for barley, it’s 13 per cent. The federal program encourages R&D investment by giving claimants tax credits for their expenditures on eligible R&D […] 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 ministers meeting Tuesday in Ottawa included (l-r) Devin Dreeshen (Alberta), David Marit (Saskatchewan), Bloyce Thompson (P.E.I.), Andre Lamontagne (Quebec), Marie-Claude Bibeau (Canada), Ernie Hardeman (Ontario), Blaine Pedersen (Manitoba), Lana Popham (B.C.) and Keith Colwell (Nova Scotia). (Photo courtesy AAFC)

Feds, provinces plan minor tweaks to AgriStability

Ottawa — Minor changes are coming to AgriStability following Tuesday’s meeting between federal Agriculture Minister Marie-Claude Bibeau and her provincial counterparts. Major changes, however, will have to wait. A full review of federal business risk management (BRM) will be completed in April, with the findings discussed when the federal, provincial and territorial ministers meet again […] 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


Dry conditions and a shortage of feed has prompted Ottawa to make much of Western Canada eligible for its Livestock Tax Deferral Provision program.

Tax relief offered to livestock producers short on feed

If you’re forced to sell breeding stock but planning to restock, you can defer taxes for a year

Reading Time: < 1 minute Twenty-one counties and municipal districts in Alberta are on the “initial list” of regions where livestock producers can defer taxes because of feed shortfalls. The federal government’s Livestock Tax Deferral Provision program allows producers to defer a portion of their 2018 sale proceeds of breeding livestock until 2019 to help replenish the herd. The cost […] Read more

Tuberculosis bacteria under an electron microscope. (Janice Haney Carr photo courtesy Centers for Disease Control and Prevention (U.S.))

All quarantines lifted in bovine TB probe

The mystery of how six Prairie cattle caught a Mexican strain of bovine tuberculosis (TB) is now expected to remain a mystery indefinitely. The Canadian Food Inspection Agency on Monday announced quarantines have been lifted from all Prairie cattle operations tested during its probe of a bovine TB outbreak beginning in the fall of 2016. […] Read more


(Photo courtesy Canada Beef Inc.)

Saskatchewan, B.C. areas up for livestock tax deferrals

Livestock producers in several more parched municipalities in Saskatchewan and British Columbia will be able to defer income from sales of animals on their 2017 tax returns. The federal government on Tuesday announced its final list of designated regions for 2017, including 20 more municipalities in Saskatchewan and seven in British Columbia. The initial list, […] Read more

(Photo courtesy CN)

CN’s Q4 grain handle down in ‘challenging conditions’

U.S. income tax reform more than offset “challenging” conditions, including reduced grain handle, in Canadian National Railway’s fourth fiscal quarter. Montreal-based CN on Tuesday reported net income of $2.611 billion on total revenues of $3.285 billion for its fourth quarter ending Dec. 31, up from $1.018 billion on $3.217 billion in the year-earlier Q4. The […] Read more