Income tax Archives - Page 2 of 4 - Manitoba Co-operator

Agriculture and Agri-Food Canada’s final map of designated areas for the livestock tax deferral provision for the 2018 tax year, as of Jan. 30, 2019. (Agr.gc.ca)

Livestock tax deferral map expands again for 2018

By GFM Network News, Gfm Staff January 30, 2019

Some northern and southwestern Ontario producers who had to sell breeding livestock due to drought in the 2018 tax year can now defer chunks of the income from those sales when filing their income taxes. The federal government on Wednesday rolled out its final list and map of designated regions for 2018 under its livestock

Tuberculosis bacteria under an electron microscope. (Janice Haney Carr photo courtesy Centers for Disease Control and Prevention (U.S.))

Beef cattle, Livestock

All quarantines lifted in bovine TB probe

By GFM Network News, Manitoba Co-operator Staff February 12, 2018

The mystery of how six Prairie cattle caught a Mexican strain of bovine tuberculosis (TB) is now expected to remain a mystery indefinitely. The Canadian Food Inspection Agency on Monday announced quarantines have been lifted from all Prairie cattle operations tested during its probe of a bovine TB outbreak beginning in the fall of 2016.

Forages, Livestock, Weather

Saskatchewan, B.C. areas up for livestock tax deferrals

By GFM Network News, Manitoba Co-operator Staff February 6, 2018

Livestock producers in several more parched municipalities in Saskatchewan and British Columbia will be able to defer income from sales of animals on their 2017 tax returns. The federal government on Tuesday announced its final list of designated regions for 2017, including 20 more municipalities in Saskatchewan and seven in British Columbia. The initial list,

Crops

CN’s Q4 grain handle down in ‘challenging conditions’

By GFM Network News, Manitoba Co-operator Staff January 23, 2018

U.S. income tax reform more than offset “challenging” conditions, including reduced grain handle, in Canadian National Railway’s fourth fiscal quarter. Montreal-based CN on Tuesday reported net income of $2.611 billion on total revenues of $3.285 billion for its fourth quarter ending Dec. 31, up from $1.018 billion on $3.217 billion in the year-earlier Q4. The

While the most concerning proposed small corporation tax reforms have been shelved there are still a couple of areas of concern, MNP accountant Mike Poole told KAP’s recent advisory council meeting.

News, Other

Still some potential pitfalls in proposed federal tax reforms

Accountant hopes effects are manageable

By Allan Dawson November 16, 2017

The federal government’s revised tax change proposals have got rid of the most egregious problems, but a few provisions could still cost farmers money. That’s according to Mike Poole, a Brandon-based accountant with MNP, at a recent Keystone Agricultural Producers (KAP) advisory meeting. “I think it’s relatively small and manageable,” Poole told reporters after speaking

Tax return storage at the Canada Revenue Agency. (Canada.ca)

Ottawa scraps plans for new limits on capital gains

By GFM Network News, Manitoba Co-operator Staff October 19, 2017

The federal finance ministry has backed away from proposed plans for new limits on capital gains exemptions, over concerns of “unintended consequences” for businesses such as farms. Finance Minister Bill Morneau on Thursday announced the federal government “will not be moving forward with measures that would limit access to the LCGE (lifetime capital gains exemption),”

Comment, Opinion, Other

Comment: The loudest voices against tax reform are not neutral

Almost absent in the debate about proposed Canadian changes are any voices defending  the idea of tax fairness

By Michael Wolfson October 16, 2017

Federal Finance Minister Bill Morneau’s proposals for tightening tax breaks associated with private companies is generating several kinds of response on social media and in mainstream media. The most evident is an impressive deluge of evidence-free rhetoric claiming that the proposals are an attack on everything from the middle class to maternity leave for female

Forages, Livestock, Weather

Drought-related livestock tax deferral zones widen again

By GFM Network News, Manitoba Co-operator Staff August 14, 2017

More ranchers in five provinces may now be able to defer some of their taxable income from their livestock sales in 2016 due to drought. The federal government on Aug. 4 announced its final list of drought-designated regions where the livestock tax deferral provision will be allowed for the 2016 tax year, and has included

Crops

Deadline extended for comment on cash ticket deferral

By GFM Network News, Manitoba Co-operator Staff May 24, 2017

Public consultations on the income tax treatment of deferred grain cash tickets, with an eye toward “potential elimination” of farmers’ option to defer grain income, have been extended by two months. The federal government on Tuesday said the consultation, first announced in Finance Minister Bill Morneau’s March budget and due to end Wednesday, will instead

Farm sales to co-ops to count for small business deduction

By GFM Network News, Manitoba Co-operator Staff May 8, 2017

Changes to federal tax law that were meant to block “multiplication” of the small business deduction for corporations won’t apply to farmers’ sales to co-operatives. The federal government on Friday released draft amendments to the Income Tax Act, which would allow qualifying farmers and fishers selling to agricultural and fisheries co-operatives to be eligible for

Daily Network News

U.S. livestock: Cattle slip back, hogs gain

U.S. grains: Soy futures post biggest monthly gain in nearly five years on China trade optimism

Farm gate milk price to rise in 2026

Tag Archives Income tax

Livestock tax deferral map expands again for 2018

All quarantines lifted in bovine TB probe

Saskatchewan, B.C. areas up for livestock tax deferrals

CN’s Q4 grain handle down in ‘challenging conditions’

Still some potential pitfalls in proposed federal tax reforms

Ottawa scraps plans for new limits on capital gains

Drought-related livestock tax deferral zones widen again

Deadline extended for comment on cash ticket deferral

Farm sales to co-ops to count for small business deduction

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