Farm property

If you are a farmer and you sell land in 2021 used principally in a farming business that includes your principal residence, only part of the gain is taxable. You can choose 1 of 2 methods to calculate your taxable capital gain. These 2 methods are explained in the publication listed below.

Forms and publications

• Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income
• RC4060, Farming Income and the AgriStability and AgriInvest Programs Guide
• RC4408, Farming Income and the AgriStability and AgriInvest Programs Harmonized Guide