T657(Page 10) - fill out and auto calculate/complete form online

Protected B when completed

Part 3h – Calculating your capital gains deduction on qualified farm or fishing

property

Complete this part only if:

•

you disposed of qualified farm or fishing property (QFFP) in 2018; and

•

each of line 14, line 31, and line 90 are all greater than or equal to line 84 of Part 3g.

Note

For 2017 there is an additional $82,142 to the capital gains deduction limit that can only be used after your cumulative capital
gains deduction of $417,858 has been used up. This additional amount does not apply to dispositions of qualified small
business corporation shares.

Maximum capital gains deduction for QFFP disposed of in 2018 . . . . . . . . . . . . . . . . . . .

Capital gains deductions from previous years (line k of Chart 2 on the last page) . . . . . .

–

Capital gains deduction available for QFFP disposed of in 2018 included in your 2018

income (line 91 minus line 92; if negative, enter "0") (see note 19 below) . . . . . . . . . . . .

►

Taxable capital gains arising from dispositions in 2018, of QFFP included in your 2018 income:

Line 110 of Schedule 3 . . . . . . . . . . . . . . . . . . . . . . . .

Line 124 of Schedule 3 . . . . . . . . . . . . . . . . . . . . . . . .

Line B of Form T2017. If this amount is negative, enter

in brackets. (see note 20 below). . . . . . . . . . . . . . . . .

Total (if negative, enter "0"). . . . . . . . . . . . . . . . . . . .

x 1/2

►

Farming/fishing income eligible for the capital gains deduction (line 173 of Schedule 3).

Total taxable capital gains from the disposition of QFFP (line 94 plus line 95) . . . . . . . . .

►

Enter the lesser of lines 93 and 96 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enter the amount from line 90 of Part 3g. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Line 97 plus line 98. Total amount of capital gains included in your 2017 income that

is eligible for the capital gains deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Notes

19. You must also subtract from line 91 above, the amount from line 90 of Part 3g.

20. If line B of your Form T2017 includes a reserve from a disposition of QFFP in any year other than 2017, remove

that part from the amount you enter here.

The maximum capital gains deduction you can claim at line 254 of your 2017 income tax and benefit return is the
lesser of the amounts at lines 14, 31, or 99. You can, however, choose to claim less than the maximum.

254