Federal Agriculture Minister, Lawrence MacAulay, has announced livestock tax relief for producers, including those impacted by the recent TB outbreak in 2016 and 2017.

Producers in Saskatchewan, and Alberta, who received compensation for the forced destruction of their livestock due to bovine tuberculosis will be allowed to defer the tax on that payment.

The 2016-2017 tax deferrals are allowed, so that the amount of compensation can be offset by the cost of acquiring new livestock.

The Federal Government has also released a list of designated areas for livestock tax deferrals for 2017 for producers impacted by drought, flood or excess moisture.

MacAulay says, Canada's agricultural sector brings jobs, high-quality food, and economic growth to Canadians.

"By introducing tax relief and maintaining current tax treatment, we continue to ensure farmers keep their businesses strong, which is vital to the continued growth and success of the sector, and to growing the middle class and those working hard to join it."

For more information, and a list of eligible regions, you can visit their website.

 

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