Insights and Stories on Tax Deferral

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 […]

By GFM Staff

Jan. 29, 2019 at 6:33 pm CST

In an unusual move, Agriculture and Agri-Food Canada has undertaken a third assessment for the federal livestock tax deferral. “Federal officials are currently finalizing the analysis to identify whether any additional regions have met the criteria for the livestock tax deferral,” AAFC spokesperson James Watson said. Under the deferral plan, […]

By Glen Hallick - MarketsFarm

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

Mar. 28, 2017 at 5:31 pm CDT

More ranchers in Alberta, Ontario, Quebec, British Columbia and Nova Scotia will be able to defer some of their taxable income from livestock sales in 2016 due to drought. The federal government on Tuesday announced a second list of drought-designated regions where the livestock tax deferral provision will be allowed, […]

By Staff

Mar. 24, 2017 at 7:55 pm CDT

Grain growers in Canada who take deferred cash purchase tickets for crops are being asked whether it’s time to get rid of the rule that allows income from those tickets to be put off to the following tax year. Tucked into federal Finance Minister Bill Morneau’s budget on Wednesday was […]

By Staff