Agriculture and Agri-Food Canada – Livestock Tax Deferral Provision
Description:
The Livestock Tax Deferral provision allows farmers who sell part of their breeding herd due to drought or flooding in prescribed drought or flood regions to defer a portion of sale proceeds to the following year.
To defer income, the breeding herd must have been reduced by at least 15%.
Comments on Funding:
Funding will take the form of a tax deferral:
- where the breeding herd has been reduced by at least 15%, but less than 30%, 30% of income from net sales can be deferred;
- where the breeding herd has been reduced by 30% or more, 90% of income from net sales can be deferred.
Eligibility:
Applicants must:
Program Contact:
When It Ends:
Ongoing
Deadline:
Rolling deadline