CCA Budget Reaction: Budget 2024 sends a positive indicator that meaningful changes are coming to Livestock Tax Deferral

On behalf of beef producers, the Canadian Cattle Association (CCA) is cautiously optimistic that the Government recognized the Livestock Tax Deferral’s effectiveness in providing relief for producers in Budget 2024 and recognized it as a crucial tool for producers in times of natural disasters such as drought or floods. The CCA has requested a change to the Income Tax Act to include all classes of cattle and allow producers to self-elect when they need to use the deferral.

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