Reducing their breeding herd is one way that livestock producers manage significant forage shortages due to last year’s dry conditions.
As a result, the Federal Government has updated its list for designated regions where livestock tax deferral is authorized for 2017 due to drought, flood or excess moisture conditions.
Federal Ag Minister Lawrence MacAulay says Extreme weather and natural disasters created significant challenges for many Canadian livestock producers in 2017.
This tax deferral will help producers manage the impacts of the adverse weather while focussing on rebuilding their herds in the coming year.
The designated area covers southern and central Saskatchewan, as well as an area north of Saskatoon. The Southeast and East Central area of the province are excluded.
The livestock tax deferral provisions allow livestock producers to defer a portion of their 2017 sale proceeds of breeding livestock until 2018 to help replenish the herd.
Here is a link to the Federal Government’s Livestock Tax Deferral Program.