Insights and Stories on Income Tax

Livestock tax deferral map expands again for 2018

Jan. 30, 2019 at 7:05 pm CST

Some northern and southwestern Ontario producers who had to sell breeding livestock due to drought in the 2018 tax year can now defer chunks of the income from those sales when filing their income taxes. The federal government on Wednesday rolled out its final list and map of designated regions […]

All quarantines lifted in bovine TB probe

Feb. 12, 2018 at 8:18 pm CST

By Staff

Saskatchewan, B.C. areas up for livestock tax deferrals

Feb. 6, 2018 at 8:06 pm CST

By Staff

CN’s Q4 grain handle down in ‘challenging conditions’

Jan. 23, 2018 at 8:01 pm CST

By Staff

Ottawa scraps plans for new limits on capital gains

Oct. 19, 2017 at 7:58 pm CDT

By Staff

Drought-related livestock tax deferral zones widen again

Aug. 14, 2017 at 6:32 pm CDT

More ranchers in five provinces may now be able to defer some of their taxable income from their livestock sales in 2016 due to drought. The federal government on Aug. 4 announced its final list of drought-designated regions where the livestock tax deferral provision will be allowed for the 2016 […]

By Staff

Deadline extended for comment on cash ticket deferral

May. 23, 2017 at 7:37 pm CDT

Public consultations on the income tax treatment of deferred grain cash tickets, with an eye toward “potential elimination” of farmers’ option to defer grain income, have been extended by two months. The federal government on Tuesday said the consultation, first announced in Finance Minister Bill Morneau’s March budget and due […]

By Staff

Farm sales to co-ops to count for small business deduction

May. 8, 2017 at 7:47 pm CDT

Changes to federal tax law that were meant to block “multiplication” of the small business deduction for corporations won’t apply to farmers’ sales to co-operatives. The federal government on Friday released draft amendments to the Income Tax Act, which would allow qualifying farmers and fishers selling to agricultural and fisheries […]

By Staff

Drought-hit tax deferral zones named

Nov. 22, 2016 at 6:33 pm CST

Ottawa has seen enough drought in parts of southwestern Alberta, southern and eastern Ontario and southwestern Quebec to offer deferrals on their ranchers’ 2016 income tax from breeding livestock sales. Agriculture Minister Lawrence MacAulay on Tuesday released the federal government’s initial list of municipalities designated for the 2016 deferral. In […]

By Staff

Drought-related tax deferral zones expand in West

Feb. 2, 2016 at 2:28 pm CST

More livestock producers in the West who had to sell breeding stock due to drought in the 2015 tax year will be able to defer some or most of that income at tax time. Federal Agriculture Minister Lawrence MacAulay on Tuesday announced more designated areas in all four western provinces […]

By Staff

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