Livestock producers who sold all or part of their herd in 2007 due to drought conditions could be eligible for a tax break.

Federal Agriculture Minister Gerry Ritz says the one year tax deferral will apply to owners of breeding livestock who were forced to sell all or part of their herd as a result.

 

The tax provisions allow for 30% of income from net sales to be deferred if the breeding herd has been reduced by at least 15%, but less than 30%.

 

If the herd was reduced by 30% or more, 90% of income from net sales can be deferred.

 

Producers can check with their local Rural Municipality offices to see if their area is covered under the program.