The Federal Government has released the initial list of regions eligible for the 2019 livestock tax deferral.

The Government says drought conditions across Western Canada have caused feed shortages, where an option for producers is to reduce herd sizes to manage feed supplies.

The provision allows income from livestock sales to be deferred to the next tax year, when the income may be partially offset by the cost of buying back breeding animals.

"Canadian producers have had to face numerous challenges due to extreme weather conditions," said Canada's Agriculture Minister, Marie-Claude Bibeau. "It is a priority for our government to quickly determine how the livestock tax deferral will be authorized to ensure that our producers have the support necessary to make informed herd management decisions and to help them keep their businesses strong."

The Government says for a region to be eligible for the tax deferral, there must be a forage shortfall of 50 per cent or more caused by drought or excess moisture.

There's a total of 30 Alberta regions which made the initial list, mostly in the Northern and Southern parts of the province.

Foothills County did not make the list, but neighbouring producers in Vulcan County, Wheatland County and the MD of Willow Creek are eligible.

For the full list of regions, you can visit their website.

 

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