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Income Tax Act, RSC 1985, c 1.

Country/Territory
Canada
Document type
Legislation
Date
1985 (2021)
Source
FAO, FAOLEX
Subject
Agricultural & rural development, Livestock, Fisheries, Land & soil
Keyword
Agricultural development Cooperative/producer organization Business/industry/corporations Farming Tax/levy Agricultural commodities Agricultural land Property rights Rural employment Fish products Animal production
Geographical area
Americas, Arctic, Asia and the Pacific, East Pacific, North America, North Atlantic
Abstract

This Act makes provision for the calculation and collection of income tax in Canada and related matters. It concerns, among other things, taxation for farming or fishing business, including taxpayers that have basic herd of a class of animals and disposes of an animal of that class in the course of carrying on a farming business. It provides for deductions for taxpayers that improve land for farming (clearing land, levelling land or installing a land drainage system for the purposes of the business); it dedicates a section to agricultural cooperatives; it regulates transfer of family farm and fishing corporations and partnerships; leased farm or fishing property, among others.

Full text
English/French
Website
laws-lois.justice.gc.ca