. Agri-news. Agriculture. November 11,1991 Livestock deferral plan extended to eastern Alberta producers Producers in east central and northeastern Alberta who had to sell their breeding livestock because of drought conditions in 1991 will benefit from the extension of a federal government tax deferral program. In designated areas producers will be eligible for a one-year tax deferral on income from drought-induced sales of their breeding stock. These eligible areas are: the counties of Two Hills, St. Paul, Smoky Lake and Athabasca; the municipal districts of Bonnyville and Acadia; Improvement
. Agri-news. Agriculture. November 11,1991 Livestock deferral plan extended to eastern Alberta producers Producers in east central and northeastern Alberta who had to sell their breeding livestock because of drought conditions in 1991 will benefit from the extension of a federal government tax deferral program. In designated areas producers will be eligible for a one-year tax deferral on income from drought-induced sales of their breeding stock. These eligible areas are: the counties of Two Hills, St. Paul, Smoky Lake and Athabasca; the municipal districts of Bonnyville and Acadia; Improvement District 18 (south); and. special areas 2, 3 and 4. Eligibility was based on soil moisture and water supply conditions, and forage yields reported to the Alberta Hail and Crop Insurance Corporation during the 1991 growing season. "Producers who experienced a drought year in 1991 can defer a portion of their breeding herd sale proceeds until 1992. This is a management tool for producers who are forced to sell livestock because they lacked feed and water supplies for all or part of their herd," says Paul Gervais of Alberta Agriculture's farm business management branch. Through the tax deferral program, eligible producers exclude a portion of their sale income for one year. The untaxed proceeds can then be used the following year to replenish their breeding herds. An extended deferral will also apply to producers who qualified for the program for the second consecutive year in 1991. "Producers who took advantage of the tax deferral in 1990, and again live in a 1991 designated area, can defer 1990 sale income for another year," he says. Gervais reminds producers that they must request this deferral when they file their 1991 income tax return. They can also contact their district taxation office for information about their eligibility. Alberta's Agriculture Minister Ernie Isley requested that Bill McKnight, the federal agriculture minister, extend the program to
Size: 2109px × 1184px
Photo credit: © Library Book Collection / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookleafnumber19, booksubjectagriculture, juldec
