Country 105

Country 105


Agriculture Report

Tax Deferrals Available

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Feds offering Tax deferrals to livestock producers in drought affected municipalities.


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Our federal government is offering tax deferrals to livestock producers in drought affected municipalities.

Agriculture Minister Gerry Ritz says the deferrals will give producer some breathing room so they can redirect money towards replenishing next year's breeding stock and get back to business.

To defer income, the breeding herd must have been reduced by at least 15 per cent.

That will allow producers to defer 30 per cent of the income from net sales.

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Huron County is hoping its bid to host the International Plowing Match in 2017 is accepted.

Huron Director of the Plowmens Association Steve Corbett tells us they have completed a lot of work for the application -- even if the match is five years away.

Sites in the running to host the IPM must have three phase hydro service, it must be close to a major highway, and on-site water supply is preferred.

The International Plowing Match attracts close to 100 thousand people.

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A conservative think-tank says Canadian farmers and consumers are shackled by agricultural marketing boards that control sales and -- in some cases -- supply.

The Montreal Economic Institute says marketing boards haven't helped stabilize or increase farm incomes or preserve the number of family farms.

It also says Canadian consumers are paying the price because there's no competition between producers to improve productivity. 

 

 


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