Agriculture and Agri-Food Canada

Agriculture and Agri-Food Canada

March 03, 2009 18:15 ET

Saskatchewan Livestock Producers Affected by Drought Will Get Assistance From Federal

OTTAWA, ONTARIO--(Marketwire - March 3, 2009) - Federal Agriculture Minister Gerry Ritz today announced livestock producers in Saskatchewan will be eligible for tax deferrals on livestock sold due to drought in 2008.

"Our Government understands the strain that livestock producers are facing and have been facing for several years," said Minister Ritz. "We will continue to put farmers first to ensure these families can weather these challenges and continue to drive the Canadian economy."

Producers from an additional 48 Rural Municipalities in southwest Saskatchewan who were forced to sell all or part of their herd due to drought conditions will be eligible for a one-year tax deferral on 2008 income from these sales.

To defer income, the breeding herd must have been reduced by at least 15 per cent. Thirty per cent of income from net sales can be deferred if the breeding herd has been reduced by at least 15 per cent, but less than 30 per cent. Where the herd has been reduced by 30 per cent or more, 90 per cent of income from net sales can be deferred.

The deferral allows eligible producers in designated areas to defer income tax on the sale of breeding livestock for one year to help replenish breeding stock in the following year. In the case of consecutive years of drought designation, producers may defer sales income to the first year in which the area is no longer designated.

Eligible producers will be able to request this deferral when filing their 2008 income tax returns. Livestock producers are advised to contact their local Canada Revenue Agency Tax Services Office for details on the income tax provisions.

Please see attached list of designated areas in Saskatchewan for 2008.



SASKATCHEWAN

RM 1 Argyle(i)
RM 2 Mount Pleasant(i)
RM 3 Enniskillen(i)
RM 4 Coalfields(i)
RM 5 Estevan(i)
RM 6 Cambria(i)
RM 7 Souris Valley(i)
RM 8 Lake Alma(i)
RM 9 Surprise Valley
RM 10 Happy Valley
RM 11 Hart Butte
RM 12 Poplar Valley
RM 17 Val Marie
RM 18 Lone Tree
RM 19 Frontier(i)
RM 31 Storthoaks(i)
RM 32 Reciprocity(i)
RM 33 Moose Creek(i)
RM 34 Browning(i)
RM 35 Benson(i)
RM 36 Cymri(i)
RM 37 Lomond(i)
RM 38 Laurier(i)
RM 39 The Gap(i)
RM 40 Bengough
RM 42 Willow Bunch
RM 43 Old Post
RM 44 Waverley
RM 45 Mankota
RM 46 Glen McPherson
RM 49 White Valley(i)
RM 65 Tecumseh(i)
RM 66 Griffin(i)
RM 67 Weyburn(i)
RM 68 Brokenshell(i)
RM 69 Norton(i)
RM 70 Key West(i)
RM 71 Excel
RM 72 Lake of the Rivers
RM 73 Stonehenge
RM 74 Wood River
RM 75 Pinto Creek
RM 76 Auvergne
RM 77 Wise Creek
RM 78 Grassy Creek
RM 79 Arlington(i)
RM 97 Wellington(i)
RM 98 Scott(i)
RM 99 Caledonia(i)
RM 100 Elmsthorpe(i)
RM 101 Terrell(i)
RM 102 Lake Johnston(i)
RM 103 Sutton
RM 104 Gravelbourg
RM 105 Glen Bain
RM 106 Whiska Creek(i)
RM 107 Lac Pelletier(i)
RM 108 Bone Creek(i)
RM 127 Francis(i)
RM 128 Lajord(i)
RM 129 Bratt's Lake(i)
RM 130 Redburn(i)
RM 131 Baildon(i)
RM 132 Hillsborough(i)
RM 133 Rodgers(i)
RM 134 Shamrock(i)
RM 159 Sherwood(i)
RM 160 Pense(i)
RM 161 Moose Jaw(i)
RM 162 Caron(i)
RM 191 Marquis(i)

(i)additional designation


Contact Information

  • Agriculture and Agri-Food Canada
    Ottawa, Ontario
    Media Relations
    613-759-7972
    1-866-345-7972
    or
    The Office of the Honourable Gerry Ritz
    Meagan Murdoch
    Press Secretary
    613-759-1059