Livestock Tax Deferral Provision
Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, Yukon
Government of Canada, Agriculture and Agri-Food Canada
Funding Amount
Up to 90% of income from net sales can be deferred
Program Contact Details
aafc.taxdeferral-reportdelimpot.aac@agr.gc.ca
Contact details unavailable
Industry
Farming, Animal Production
What is this funding for?
Tax deferral for livestock producers in some Atlantic regions
Program Description
The Livestock Tax Deferral provision allows farmers that carry on a farming business in a prescribed area who sell all or part of their breeding herd due to drought, excess moisture or flooding to defer a portion of sale proceeds to the following year.
To qualify for the deferral, the taxpayer must meet two conditions:
1. The farming business was located in a Prescribed Drought Region (PDR) at some time during the current fiscal period; and
2. The breeding herd was reduced, by at least 15%.
Refer to program website for the complete list of applicable areas.
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