Federal Agriculture Minister Gerry Ritz has announced more livestock producers will have access to tax deferrals to help deal with excess moisture and flooding.
22 Manitoba municipalities - largely in the southwest and Interlake - have been added to list of municipalities where producers are eligible for tax deferrals.
The tax deferral allows eligible producers to defer income tax on the sale of breeding livestock for one year, to help replenish breeding stock in the following year.
To defer income, the breeding herd must have been reduced by at least 15 percent. If this is the case, 30 percent of income from net sales can then be deferred. In cases where the herd has been reduced by more than 30 percent, 90 percent of income from net sales can be deferred.