Some northern and southwestern Ontario producers who had to sell breeding livestock due to drought in the 2018 tax year can now defer chunks of the income from those sales […] Read more
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Tag Archives income tax
Livestock tax deferral map expands again for 2018
All quarantines lifted in bovine TB probe
The mystery of how six Prairie cattle caught a Mexican strain of bovine tuberculosis (TB) is now expected to remain a mystery indefinitely. The Canadian Food Inspection Agency on Monday […] Read more
Saskatchewan, B.C. areas up for livestock tax deferrals
Livestock producers in several more parched municipalities in Saskatchewan and British Columbia will be able to defer income from sales of animals on their 2017 tax returns. The federal government […] Read more
CN’s Q4 grain handle down in ‘challenging conditions’
U.S. income tax reform more than offset “challenging” conditions, including reduced grain handle, in Canadian National Railway’s fourth fiscal quarter. Montreal-based CN on Tuesday reported net income of $2.611 billion […] Read more
Ottawa scraps plans for new limits on capital gains
The federal finance ministry has backed away from proposed plans for new limits on capital gains exemptions, over concerns of “unintended consequences” for businesses such as farms. Finance Minister Bill […] Read more
Drought-related livestock tax deferral zones widen again
More ranchers in five provinces may now be able to defer some of their taxable income from their livestock sales in 2016 due to drought. The federal government on Aug. […] Read more
Deadline extended for comment on cash ticket deferral
Public consultations on the income tax treatment of deferred grain cash tickets, with an eye toward “potential elimination” of farmers’ option to defer grain income, have been extended by two […] Read more
Farm sales to co-ops to count for small business deduction
Changes to federal tax law that were meant to block “multiplication” of the small business deduction for corporations won’t apply to farmers’ sales to co-operatives. The federal government on Friday […] Read more
Drought-hit tax deferral zones named
Ottawa has seen enough drought in parts of southwestern Alberta, southern and eastern Ontario and southwestern Quebec to offer deferrals on their ranchers’ 2016 income tax from breeding livestock sales. […] Read more
Drought-related tax deferral zones expand in West
More livestock producers in the West who had to sell breeding stock due to drought in the 2015 tax year will be able to defer some or most of that […] Read more
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