Alberta brought into Livestock Tax Deferral program for fifth year in six
By MEDICINE HAT NEWS on August 20, 2021.
https://www.medicinehatnews.com@MedicineHatNews Every region of southern and central Alberta east of the mountain park region is now captured in a federal drought response program to allow livestock producers to defer income from sales spurred on by high feed prices. The Livestock Tax Deferral program helps ranchers avoid paying higher than expected taxes in a year when they face reducing breeding stock, essentially selling off animals rather than taking a loss by feeding them. The measure has been put in place in Cypress County in five of the last six years with 2020 being the exception. The entire southern prairies through to Thunder Bay will be captured in the 2021 program. In Alberta, prescribed regions include Grand Prairie and areas immediately north of Edmonton. The most recent Alberta crop report stated on Aug. 10 that hay yields on dryland across southern regions were estimated to average about 800 kilograms per acre. That’s down from the five-year average of 1.1 tonnes. Irrigated hay production had also fallen by about 10 per cent during the first cut, with a majority (65 per cent) being of poor quality, and a second-cut estimate expected lower yield. Pasture conditions were rated 53 per cent poor throughout the Medicine Hat, Lethbridge, Foremost and Strathmore regions. 8-7
