July 19th, 2024

Southeast Alberta regions listed among those which could receive tax deferrals on cattle sales

By Medicine Hat News on June 15, 2024.

Cypress County has again been delineated as a drought area for some taxation purposes relating to cattle sales, the federal agriculture agency has announced in its initial survey for the Livestock Tax Deferral Program.--News File Photo

@MedicineHatNews

Cypress County and the counties of Forty Mile and Newell, as well as Special Areas, are again on an initial list of regions where tax deferrals on cattle sales could be available due to drought.

The federal program allows livestock producers to report unexpected income when selling head to avoid high feed costs to the next financial year, or the next non-drought year.

The program has been extended to large portions of southeast Alberta seven times in the last eight years, with 2020 being the exception.

This year, most areas in east-central Alberta appear on an initial list published Friday, including all along the Saskatchewan boundary from Montana to Bonnyville.

A “buffer” zone of municipalities surrounds the most affected regions, including Forty Mile, Taber and Vulcan County, where the program also extends.

Rural municipalities in Saskatchewan on the initial list are located along the Alberta boundary and the far north, though most of the province is not included.

Included as buffer of prescribed regions are the RMs of Reno, Maple Creek, Enterprise, Deer Forks, Fox Valley, Happyland and Chesterfield, among others further north.

Other areas could be added to the final list published in the fall if drought or surplus moisture cause a forage shortfall of at least 50 per cent.

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