The Canadian Cattle Association says they are cautiously optimistic about the 2024 federal budget.
The CCA expressed their optimism, attributing it to the federal government’s recognition of the Livestock Tax Deferral’s pivotal role in providing relief for producers, a significant inclusion in the 2024 federal budget.
“Beef producers are encouraged to see the Livestock Tax Deferral in Budget 2024, and we are hopeful that meaningful change will come quickly as we head into another extremely dry season in Western Canada,” said Nathan Phinney, CCA President.
Phinney views the announcement as “an indication that the government will make a change and work with ranchers to find a solution that addresses extreme weather challenges for producers across the country.”
In addition to the Livestock Tax Deferral, CCA is pleased to see the government is supporting efforts to amend the Copyright Act to help achieve interoperability between devices and equipment.
CCA is also pleased to see the Advance Payment Program (APP) will have a $250,000 interest-free limit for the 2024 program year, as announced last month.
“After years of advocacy, we are cautiously optimistic that the Government will work quickly in partnership with the beef sector to design a framework that addresses the weather-related challenges beef producers are facing,” continued Phinney.
CCA added that they will continue to work with the Government of Canada to advocate for these changes to be made as soon as possible to help producers mitigate climate risk.