There are a total of 21 regions in Alberta where producers are eligible for the livestock tax deferral provision for 2018.

The initial 2018 list of regions was released by the Federal Government on Friday, September 14.

The Government says, extreme weather conditions have caused feed shortfalls in several provinces, which has lead to designation regions in B.C., Alberta, Saskatchewan, Manitoba and Quebec.

These livestock tax deferral provisions allow producers to defer a portion of their 2018 sale proceeds of breeding stock until 2019 to help replenish the herd.

The cost of replacing the animals in 2019 will offset the deferred income, reducing the tax burden associated with the original sale.

Producers can request the tax deferral when filing their 2018 income tax returns.

Federal Agriculture Minister, Lawrence MacAulay, says this year's growing conditions across several provinces has brought many challenges to Canadian livestock producers.

"The Government has prioritized the approval of the Livestock Tax deferral to give farmers more certainty about their financial situation and help them keep their business strong, while growing the economy and strengthening the middle class."

For a full list of eligable regions, you can visit Agriculture and Agri-Food Canada's website.

 

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