Tax Relief For Livestock Producers

Still with livestock, in case you didn’t hear yesterday, Agriculture Canada has released a list of designated regions on the prairies where tax deferrals have been authorized for 2015.

Caitlynn Reesor has the details (0:57 minutes) (447 Kb)

To defer income, the breeding herd must have been reduced by at least 15%. If this is the case, 30% of income from net sales can then be deferred. In cases where the herd declines by 30 per cent or more, 90% of income from net sales can be deferred. Eligible producers can request the tax deferral when filing their 2015 income tax returns.