Farming Income and the AgriStability and AgriInvest Programs Harmonized Guide 2016

RC4408(E) Rev. 16

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For AgriStability and AgriInvest participants in British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, and Yukon.

Table of contents

• Before you start
  • Is this guide for you?
  • AgriStability and AgriInvest contact information
  • Penalties
  • Forms and publications
  • Where to mail your forms and return
  • How to send additional information for AgriStability and AgriInvest
  • AgriStability and AgriInvest form deadline
  • Do you need more information?
• What's new for 2016?
• Chapter 1 – General information
  • Farming income
  • Business records
  • Instalment payment
  • Dates to remember
  • Important information for AgriStability and AgriInvest
  • Employment insurance (EI) benefits for self-employed persons
  • Goods and services tax/harmonized sales tax (GST/HST) registration
  • What is a partnership?
• Chapter 2 – Your AgriStability and AgriInvest programs
  • Participating in the programs
  • Form T1273, Statement A – Harmonized AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals
  • Form T1274, Statement B – Harmonized AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Additional Farming Operations
  • Completing the forms
  • Section 1 – Participant information
  • Section 2 – Other farming information
  • Section 3 – Identification
• Chapter 3 – Calculating your farming income or loss
  • Section 4 – Income
  • Income from program payments
  • Other farming income
  • Summary of income
  • Section 5 – Expenses
  • Commodity purchases
  • Repayment of program benefits
  • AgriStability Program – Allowable expenses
  • AgriStability program – Non-allowable expenses
  • Section 6 – Summary of income and expenses
  • Partnership information chart
• Chapter 4 – Inventories, purchased inputs, deferrals, receivables and payables
  • For AgriStability participants
  • Section 7 – Livestock inventory valuation
  • Section 8 – Crop inventory valuation and productive capacity
  • Section 9 – Livestock productive capacity
  • Section 10 – Purchased inputs
  • Section 11 – Deferred income and receivables
  • Section 12 – Accounts payable
• Chapter 5 – Capital cost allowance (CCA)
  • What is CCA?
  • How much CCA can you claim
  • Form T1175, Farming – Calculation of Capital Cost Allowance (CCA) and Business-Use-of-Home Expenses
  • Classes of depreciable property
  • Special situations
• Chapter 6 – Eligible capital expenditures
  • What is an eligible capital expenditure?
  • What is an annual allowance?
  • What is a cumulative eligible capital (CEC) account?
  • Sale of eligible capital property – Fiscal period ending in 2016
  • Farming income from the sale of eligible capital property eligible for the capital gains deduction
  • Replacement property
  • Eligible capital property of a deceased taxpayer
• Chapter 7 – Farm losses
  • Fully deductible farm losses
  • Restricted farm losses (partly deductible)
  • Non-deductible farm losses
  • Non-capital losses
• Chapter 8 – Capital gains
  • What is a capital gain?
  • What is a capital loss?
  • How to calculate your capital gain or loss
  • Restricted farm losses
  • Qualified farm or fishing property and cumulative capital gains deduction
  • Transfer of farm or fishing property to a child
  • Transfer of farm or fishing property to a spouse or common-law partner
  • Other special rules
  • Information reporting of tax avoidance transactions
• Commodity list
• Program payment list A
• Program payment list B
• Inventory code list
• Regional code list
• Units of measurement code list
• Expense code list
• Productive capacity list
• Capital cost allowance (CCA) rates
• How to calculate the mandatory inventory adjustment (MIA)
• GST/HST rates
• Online services
• For more information

• Next

Date modified:

2017-02-10