Livestock producers offered tax relief
Local producers who were impacted by drought or flooding last year have received some assistance from the federal government.
The livestock tax deferral programs allows livestock producers in prescribed drought, flood or excess moisture regions to defer a portion of their 2017 sale proceeds of breeding livestock until 2018.
Federal Minister of Agriculture and Agri-Food Lawrence MacAulay said extreme weather and natural disasters created significant challenges for many Canadian livestock producers in 2017.
“This tax deferral will help producers manage the impacts of the adverse weather, while focussing on rebuilding their herds in the coming year. This will help farmers keep their businesses strong, while growing the economy and strengthening the middle class,” he said in a media statement.