AgriRecovery Funding for Farmers
The Government of Canada has announced additional AgriRecovery funding to aid farmers affected by extreme weather conditions. Details are minimal at this point, but the following initiatives are in the works:
- Livestock producers may be eligible for up to $200 per breeding female to assist with added costs of obtaining feed and water for livestock. More information here: https://afsc.ca/news/support-on-the-way-for-livestock-producers/
- Farmers can apply for an interim payment under the AgriStability program for the 2021 year. Interim benefit payments for 2021 have been increased from 50% to 75% in order to access a larger portion of the benefit sooner.
- Livestock tax deferral prescribed drought regions have been released. This program allows beef producers to defer livestock sales forced by drought conditions in order to offset costs to replace the herd in a later period. Designated drought regions can be seen here: https://agriculture.canada.ca/en/agriculture-and-environment/drought-watch-and-agroclimate/livestock-tax-deferral-provision/2021-list-prescribed-regions
Details regarding the Government of Canada’s funding announcement can be found here: https://www.canada.ca/en/agriculture-agri-food/news/2021/08/government-of-canada-increases-total-agrirecovery-funding-to-up-to-500-million-to-support-farmers-facing-extreme-weather.html
As more details are released, we will provide updated information.
For more information or assistance, please contact our office.
