News release
FEDERAL TAX DEFERRAL TO HELP FARMERS IN SASKATCHEWAN
OTTAWA, July 24, 2002 - Owners of breeding livestock in parts of Saskatchewan, forced to sell all or part of their herd in 2002 due to drought conditions, will be eligible for a one-year tax deferral on 2002 income from those sales.
The eligibility was made on the recommendation of Lyle Vanclief, Minister of Agriculture and Agri-Food, to John Manley, Minister of Finance.
The deferral was made after reviewing soil moisture and precipitation levels going into the 2002 growing season, and provides a management option to owners of breeding livestock forced to sell all or part of their herd due to drought conditions affecting feed or water supplies.
"By announcing this designation early in the year, the Government of Canada is working to be as responsive as possible to the dry conditions affecting Saskatchewan's producers," said Mr. Vanclief. "We hope this measure, together with the complementary suite of programs designed to help manage the risks of farming, will enable producers in the province to maintain their operations through this difficult period."
In designated areas of Saskatchewan, the deferral allows eligible producers to defer income tax on the sale of breeding livestock for one year to replenish breeding stock in the following year. In the case of consecutive years of drought designation, producers may defer sales income to the first year in which the area is no longer designated.
Eligible producers will be able to request this deferral when filing their 2002 income tax returns. Livestock producers are asked to contact their local Canada Customs and Revenue Agency office for details on the income tax provisions.
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Please see attached list of eligible designated areas in Saskatchewan.
For more information, media may contact:
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Donald Boulanger Press Secretary Minister Vanclief's office Ottawa (613) 759-1761 |
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Media Relations Agriculture and Agri-Food Canada Ottawa (613) 759-7972 |
2002 INITIAL DESIGNATIONS
SASKATCHEWAN
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RM 1 ARGYLE RM 2 MOUNT PLEASANT RM 3 ENNISKILLEN RM 17 VAL MARIE RM 18 LONE TREE RM 19 FRONTIER RM 31 STORTHOAKS RM 32 RECIPROCITY RM 33 MOOSE CREEK RM 44 WAVERLEY RM 45 MANKOTA RM 46 GLEN MCPHERSON RM 49 WHITE VALLEY RM 51 RENO RM 61 ANTLER RM 63 MOOSE MOUNTAIN RM 74 WOOD RIVER RM 75 PINTO CREEK RM 76 AUVERGNE RM 77 WISE CREEK RM 78 GRASSY CREEK RM 79 ARLINGTON RM 91 MARYFIELD RM 92 WALPOLE RM 93 WAWKEN RM 102 LAKE JOHNSTON RM 103 SUTTON RM 104 GRAVELBOURG RM 105 GLEN BAIN RM 106 WHISKA CREEK RM 107 LAC PELLETIER RM 108 BONE CREEK RM 109 CARMICHAEL RM 110 PIAPOT RM 111 MAPLE CREEK RM 121 MOOSOMIN RM 122 MARTIN RM 123 SILVERWOOD RM 132 HILLSBOROUGH RM 133 RODGERS RM 134 SHAMROCK RM 135 LAWTONIA RM 136 COULEE RM 137 SWIFT CURRENT RM 138 WEBB RM 139 GULL LAKE RM 141 BIG STICK RM 142 ENTERPRISE RM 151 ROCANVILLE RM 152 SPY HILL RM 153 WILLOWDALE RM 154 ELCAPO RM 158 EDENWOLD RM 159 SHERWOOD RM 160 PENSE RM 161 MOOSE JAW RM 162 CARON RM 163 WHEATLANDS RM 164 CHAPLIN RM 165 MORSE RM 166 EXCELSIOR RM 167 SASKATCHEWAN LANDING RM 168 RIVERSIDE RM 169 PITTVILLE RM 171 FOX VALLEY RM 181 LANGENBURG RM 183 FERTILE BELT RM 184 GRAYSON RM 185 MCLEOD RM 186 ABERNETHY RM 187 NORTH QU'APPELLE RM 189 LUMSDEN RM 190 DUFFERIN RM 191 MARQUIS RM 193 EYEBROW RM 194 ENFIELD RM 211 CHURCHBRIDGE RM 213 SALTCOATS RM 214 CANA RM 215 STANLEY RM 216 TULLYMET RM 217 LIPTON RM 218 CUPAR |
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