|
T1
464 Farming / Fishing
  Inclusion of the refundable Return of Fuel Charge Proceeds to Farmers Tax Credit |
| Program(s) affected: |
T1 |
 |
Document created: |
05 11, 2022 |
| Tax year(s): |
2021 |
Document last modified: |
|
| Version(s): |
25.10, 25.12, 25.13, 25.14 |
Problem status: |
Fixed in v25.20 |
|
The total gross eligible farming expenses are less than $25,000, is it normal that I have an inclusion of the refundable Return of Fuel Charge Proceeds to Farmers Tax Credit (Form T2043) at line 9600 of Form T2042 (or line 9959 for Forms T1163/T1273)?
No. The refundable credit is considered government assistance, it is taxable and must be included in the return for the same taxation year in which it was claimed only if the taxpayer is eligible and the total of his gross eligible farming expenses is $25,000 or more.
As a workaround, please use the keyword FuelCharge-Cr in "Farming business" and select the "No" option to avoid claiming the Return of Fuel Charge Proceeds to Farmers Tax Credit (T2043).
|