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Flag   Canada Revenue
  Agency		   Agence du revenu
  du Canada		 Protected B when completed
Statement of Farming Activities
 
•  Use this form to calculate your self-employment farming income.
 
•  For each farming business, fill in a separate Form T2042.
 
•  Fill in this form and send it with your income tax and benefit return.
 
•  For more information on how to fill in this form, see Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income.
 
 
Part 1 – Identification
    
Your name Your social insurance number
 
Farm name Business number
 
Farm address City Prov./Terr Postal code
 
Fiscal Date (YYYYMMDD)   Date (YYYYMMDD)  
period From  to   Was this your last year of farming? Yes  No 
Main product or service Industry code
(see Chapter 2 in Guide T4002)
 Accounting method Tax shelter identification number Partnership business number Your percentage
  Cash Accrual of the partnership %
Name and address of the person or firm preparing this form
 
 
 
 
Part 2 – Internet business activities
  
 If your webpages or websites generate farming income, fill in this part of the form.

From how many Internet web pages and websites (including third-party platform websites) does your business earn income?
 Enter "0" if none. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  
 
 Provide up to five main web page or website addresses
 
 http://  
 
http://  
 
http://  
 
http://  
 
http://  
 
 Percentage of your gross income generated from the web pages and websites.
 (If no gross income was generated from the Internet, enter "0") %
 
 
 
T2042 E (23) (Ce formulaire est disponible en français.) Page 1 of 8  
       

Protected B when completed
 
 
Part 3 – Income
  
  Wheat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9371    
  Oats . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9372    
  Barley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9373    
  Mixed grains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9374    
  Corn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9375    
  Canola . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9376    
  Flaxseed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9377    
  Soybeans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9378    
  Grains and oilseeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9370    
  Fruit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9421    
  Potatoes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9422    
  Vegetables (not including potatoes) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9423    
  Tobacco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9424    
  Other crops . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9420    
  Greenhouse and nursery products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9425    
  Forage crops or seeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9426    
  Livestock sold  
  Cattle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9471    
  Swine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9472    
  Poultry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9473    
  Sheep and lambs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9474    
  Livestock and animal products revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9470    
  Milk and cream (not including dairy subsidies) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9476    
  Eggs for consumption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9477    
  Other commodities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9520    
  Program payments  
  Dairy subsidies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9541    
  Crop insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9542    
  Other program payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9540    
  Rebates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9570    
  Custom or contract work (includes machine rentals) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9601    
  Insurance proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9604    
  Patronage dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9605    
  Other income (specify)*:      
      9600    
  Gross income: Total of the income lines (enter this amount on line 14099 of your income tax and benefit return) . . . . . . . . 9659    
       
* You may have received assistance from COVID-related measures from the federal, provincial or territorial governments. For more information on how to
report COVID-related assistance, go to canada.ca/en/revenue-agency/services/wage-rent-subsidies/report-subsidy-tax-return.html.
 
 
 
 
T2042 E (23)         Page 2 of 8  

Protected B when completed
 
Part 4 – Net income (loss) before adjustments
  
  Gross income (line 9659 of Part 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4A
 
  Expenses (enter only the business part)
  Containers and twine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9661    
  Fertilizers and lime . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9662    
  Pesticides (herbicides, insecticides, fungicides) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9663    
  Seeds and plants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9664    
  Feed, supplements, straw and bedding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9711    
  Livestock purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9712    
  Veterinary fees, medicine and breeding fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9713    
  Machinery expenses  
  Repairs, licences and insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9760    
  Gasoline, diesel fuel and oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9764    
  Building repairs and maintenance (includes fence repairs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9795    
  Clearing, levelling and draining land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9796    
  Crop insurance, Revenue Protection Program and stabilization premiums . . . . . . . 9797    
  Custom or contract work (includes machine rentals) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9798    
  Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9799    
  Heating fuel and curing fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9802    
  Insurance program overpayment recapture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9803    
  Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9804    
  Interest and bank charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9805    
  Office expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9808    
  Professional fees (includes legal and accounting fees) . . . . . . . . . . . . . . . . . . . . . . . . . 9809    
  Property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9810    
  Rent (land, buildings and pasture) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9811    
  Salaries, wages and benefits (including employer's contributions) . . . . . . . . . . . . . . . . . . . . . 9814    
  Motor vehicle expenses (not including CCA) (amount 16 of Chart A) . . . . . . . . . . . . . . . . . 9819    
  Small tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9820    
  Mandatory inventory adjustment included in the previous year . . . . . . . . . . . . . . . . . . . . . . 9937    
  Optional inventory adjustment included in the previous year . . . . . . . . . . . . . . . . . . . . . . 9938    
  Other expenses (specify):        
         
  Total other expenses (see Area A, column 7, on page 5) . . . . . . 9790   ►  
  Subtotal of expenses    4B
  Capital cost allowance (CCA). Enter amount ii of Area A minus any personal part and any
  CCA for business-use-of-home expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9936    
  Total farm expenses: Amount 4B plus line 9936  9898   ►    
  Net income (loss) before inventory adjustments: Amount 4A minus line 9898 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9899    
  Optional inventory adjustment included in the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9941    
  Mandatory inventory adjustment included in the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9942    
  Net income (loss) after inventory adjustments: Total of lines 9899, 9941 and 9942    4C
 
 
 
Part 5 – Your net income (loss)
  
  Your share of the amount 4C or the amount from your T5013 slip, Statement of Partnership Income  5A
  Return of fuel charge proceeds to farmers tax credit allocated to you in the year (amount 5C of
  Form T2043, Return of Fuel Charge Proceeds to Farmers Tax Credit) . . . . . . . . . . . 9951    
  GST/HST rebate for partners received in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9974    
  Total: Amount 5A plus line 9951 plus line 9974   ►    5B
  Other amounts deductible from your share of net partnership income (loss) (amount 6F) . . . . . . . . . . . . . . . . 9943    
  Net income (loss) after adjustments: Amount 5B minus line 9943 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  5C
  Business-use-of-home expenses (amount 7P) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9945    
  Your net income (loss) : Amount 5C minus line 9945 (enter this amount on line 14100 of your income tax and benefit return) 9946    
     
 
 
   
T2042 E (23) Page 3 of 8

Protected B when completed
 
 
Part 6 – Other amounts deductible from your share of net partnership income (loss)
  
 
  Claim expenses you incurred that were not included in the partnership statement of income and expenses, and for which the partnership did not reimburse
you. These claims must not be included in the claims already calculated for the partnership.
 
  List details of expenses: Expense amounts
 
      6A
   
      6B
   
      6C
   
      6D
   
      6E
Total other amounts deductible from your share of the net partnership income (loss):    
  Add amounts 6A to 6E (enter this on line 9943 of Part 5)   6F
 
 
 
Part 7 – Calculating business-use-of-home expenses
  
 
  Heat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7A
  Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7B
  Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7C
  Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7D
  Mortgage interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7E
  Property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7F
  Other expenses (specify):      7G
  Subtotal: Add amounts 7A to 7G    7H
  Personal-use part of the business-use-of-home expenses . . . . . . . . . . . . . . . . . . . . . . .  7I
  Subtotal: Amount 7H minus amount 7I    7J
  Capital cost allowance (business part only), which means amount ii of Area A minus any portion of  
  capital cost allowance that is for personal use or entered on line 9936 of Part 4 . . . . . . . . . . . . . . . .  7K
   
  Amount carried forward from previous year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7L
  Subtotal: Add amounts 7J to 7L    7M
  Net income (loss) after adjustments (amount 5C) (if negative, enter "0") . . . . . . . . . . . .  7N
  Business-use-of-home expenses available to carry forward: Amount 7M minus amount 7N  
  (if negative, enter "0") . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7O
  Allowable claim: Amount 7M or 7N above, whichever is less (enter your share of this amount on line 9945 of Part 5) . . . . . . . . . . 7P
     
 
 
 
Part 8 – Details of other partners
  
 
Do not fill in this chart if you must file a partnership information return.
 Name of partner    
 Address Prov./Terr.  Postal code  Share of net income or (loss)  Percentage of partnership
 $     %
 Name of partner    
 Address Prov./Terr.  Postal code  Share of net income or (loss)  Percentage of partnership
 $     %
 Name of partner    
 Address Prov./Terr.  Postal code  Share of net income or (loss)  Percentage of partnership
 $     %
 Name of partner    
 Address Prov./Terr.  Postal code  Share of net income or (loss)  Percentage of partnership
 $     %
 
 
Part 9 – Details of equity
  
 
  Total business liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9931    
  Drawings in the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9932    
  Capital contributions in the current year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9933    
 
 
 
 
T2042 E (23) Page 4 of 8

Protected B when completed
Area A – Calculation of capital cost allowance (CCA) claim
1 2 3 4 5 6 7** 8 9 10  
Class
number		 Undepreciated
capital cost (UCC)
at the start of the
year		 Cost of additions
in the year
(see Areas B and
C below)		 Cost of additions
from column 3
that are DIEPs
(property must be
available for use
in the year)

Note 1		 Proceeds of
dispositions
in the year (see
Areas D and E
below)

Note 2		 Proceeds of
dispositions of
DIEP (enter
amount from
col. 5 that relates
to DIEP from
col. 4)		 UCC after
additions
and dispositions
(col. 2 plus col. 3
minus col. 5)		 UCC of DIEP
(col. 4 minus
col. 6)

Note 3		 Immediate
expensing amount
for DIEPs

Note 4		 Cost of remaining
additions after
immediate
expensing (col. 3
minus col. 9)		  
                     
                     
 
                     
 
                     
 
                     
 
                     
 
                     
 
Total immediate expensing claim for the year: Total of column 9    i  
 
11 12 13 14 15 16 17 18 19  
Cost of remaining
additions from
column 10 that
are AIIPs or ZEVs

Note 5		 Remaining UCC
after immediate
expensing (col. 7
minus col. 9)		 Proceeds of
dispositions
available to
reduce additions
of AIIPs and ZEVs
(col. 5 minus
col. 10 plus
col. 11). If
negative, enter "0"		 UCC adjustment
for current-year
additions of AIIPs
and ZEVs
(col. 11 minus
col. 13)
multiplied by the
relevant factor. If
negative, enter "0"

Note 6		 Adjustment for
current-year
additions subject
to the half-year
rule.
1/2 multiplied by
(col. 10 minus
col. 11 minus
col. 5). If negative,
enter "0"		 Base amount
for CCA
(col. 12 plus
col. 14 minus
col. 15)		 CCA
rate
%		 CCA for the year
(col. 16 multiplied
by col. 17 or a
lower amount,
plus
col. 9)		 UCC at the end of
the year
(col. 7 minus
col. 18)		  
                   
                   
 
                   
 
                   
 
                   
 
                   
 
                   
 
Total CCA claim for the year: Total of column 18 (enter on line 9936 of Part 4 amount ii   ii
minus any personal part and any CCA for business-use-of-home expenses***)  
 
**  If you have a negative amount in column 7, add it to income as a recapture in Part 3 on line 9600. If no property is left in the class and there is a positive amount in this column, deduct the amount from
income as a terminal loss in Part 4 on line 9790. Recapture and terminal loss do not apply to a Class 10.1 property unless it is a DIEP. For more information, read Chapter 4 of Guide T4002.
*** For information on CCA for "Part 7 – Calculating business-use-of-home expenses," see "Special situations" in Chapter 4 of Guide T4002. To help you calculate the CCA, see the calculation charts
in Areas B to H.
See next page for notes 1 to 6.
 
T2042 E (23) Page 5 of 8  

Protected B when completed
Note 1: Columns 4, 6, 8 and 9 apply only to designated immediate expensing properties (DIEPs). See subsection 1104(3.1) of the federal Income Tax
Regulations for definitions. A DIEP is a property that you acquired after December 31, 2021, and that became available for use in the current year. For
more information, see Guide T4002.
   
Note 2 : The proceeds of disposition of a zero-emission passenger vehicle (ZEPV) that has been included in Class 54, or a passenger vehicle bought after
April 18, 2021, that has been included in Class 10.1, and whose cost is more than the prescribed amount will be adjusted based on a factor equal to its
prescribed amount as a proportion of the actual cost of the vehicle. For dispositions after July 29, 2019, you will have to adjust the actual cost of the vehicle
for any payments or repayments of government assistance that you may have received or repaid for the vehicle. If the passenger vehicle in Class 10.1 is
not designated for immediate expensing treatment, this special rule does not apply. For more information on proceeds of disposition and the prescribed
amounts, read "Class 10.1 (30%)" and "Class 54 (30%)" in Guide T4002.
   
Note 3: The amount you enter in column 8 must not be more than the amount in column 7. If the amount in column 7 is negative, enter "0."  
 
Note 4: The immediate expensing applies to DIEPs included in column 8. The total immediate expensing amount for the tax year (total of column 9) is limited to
the lesser of:
 
• the immediate expensing limit, which is equal to one of the following, whichever is applicable:
 
  - $1.5 million, if you are not associated with any other eligible person or partnership (EPOP) in the tax year
  - amount iv of Area G, if you are associated with one or more EPOPs in the tax year
  - zero, if you are associated with one or more EPOPs and an agreement that assigns a percentage to one or more of the associated EPOPs was
not filed with the minister in a prescribed form
  - any amount allocated by the minister under subsection 1104(3.4) of the Regulations
• the UCC of DIEPs in column 8
• the amount of income, if any, earned from the source of income that is a business (before any CCA deductions) in which the relevant DIEP is used
for the tax year
  For more information, see Guide T4002.
 
Note 5: Columns 11, 13 and 14 apply only to accelerated investment incentive properties (AIIPs) (see subsection 1104(4) of the federal Income Tax Regulations
for the definition), zero-emission vehicles (ZEVs), ZEPVs and other eligible zero-emission automotive equipment and vehicles that become available for
use in the year. In this chart, ZEVs represent zero-emission vehicles, zero-emission passenger vehicles and other eligible zero-emission automotive
equipment and vehicles. An AIIP is a property (other than a ZEV) that you acquired after November 20, 2018, and that became available for use before
2028. A ZEV is a motor vehicle included in Class 54 or 55 that you acquired after March 18, 2019, and that became available for use before 2028, or
eligible zero-emission automotive equipment and vehicles included in Class 56 acquired after March 1, 2020, and that became available for use before
2028. For more information, see Guide T4002.
Note 6: The relevant factors for properties available for use before 2024 are 2 1/3 (Classes 43.1, 54 and 56), 1 1/2 (Class 55), 1 (Classes 43.2 and 53),
0 (Classes 12, 13, 14 and 15) and 1/2 for the remaining AIIPs.
For more information on AIIPs, see Guide T4002 or go to canada.ca/taxes-accelerated-investment-income.
 
Part XVII properties (acquired before 1972)
 
1 2 3 4 5 6 7
Year
acquired		 Kind of
property		 Month of
disposition		 Cost
(business part)		 Rate
(%)		 CCA
for this year		 Total CCA for this
and previous years
             
         
             
         
Enter the total of amounts ii and iii on line 9936 of Part 4. Total CCA on Part XVII properties: Total of column 6  ►  iii
 
Area B – Equipment additions in the year
1 2 3 4 5
Class
number		 Property
description		 Total cost Personal part
(if applicable)		 Business part
(col. 3 minus
col. 4)
         
 
         
 
         
 
Total equipment additions in the year: Total of column 5 9925
   
Area C – Building additions in the year
1 2 3 4 5
Class
number		 Property
description		 Total cost Personal part
(if applicable)		 Business part
(col. 3 minus
col. 4)
         
 
         
 
         
 
Total building additions in the year: Total of column 5  9927
   
T2042 E (23) Page 6 of 8
Protected B when completed
 
Area D – Equipment dispositions in the year
1 2 3 4 5
Class
number		 Property
description		 Proceeds of
disposition (should
not be more than
the capital cost)		 Personal part
(if applicable)		 Business part
(col. 3 minus
col. 4)
         
 
         
 
         
 
  Total equipment dispositions in the year: Total of column 5  9926
Note: If you disposed of property from your farming business in the year, see Chapter 4 of Guide T4002 for information about your proceeds of disposition.
 
Area E – Building dispositions in the year
1 2 3 4 5
Class
number		 Property
description		 Proceeds of
disposition (should
not be more than
the capital cost)		 Personal part
(if applicable)		 Business part
(col. 3 minus
col. 4)
         
 
         
 
         
 
  Total building dispositions in the year: Total of column 5 9928
Note: If you disposed of property from your farming business in the year, see Chapter 4 of Guide T4002 for information about your proceeds of disposition.
 
Area F – Land additions and dispositions in the year
 
Total cost of all land additions in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9923  
Total proceeds from all land dispositions in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9924  
 
Note: You cannot claim capital cost allowance on land. For more information, see Chapter 3 of Guide T4002.
 
Area G – Agreement between associated eligible persons or partnerships (EPOPs)
 
Are you associated in the fiscal period with one or more EPOPs that you have entered into an agreement with under
subsection 1104(3.3) of the Regulations? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No
 
If you answered yes, fill in the table below.
 
Enter the percentage assigned to each associated EPOP (including your business) as determined in the agreement.
 
This percentage will be used to allocate the immediate expensing limit. The total of all percentages assigned under the agreement should not be more than
100%. If the total is more than 100%, then the associated group has an immediate expensing limit of zero. For more information about the immediate
expensing limit, see Guide T4002.
 
1 2 3
Name of the EPOP Identification number

Note 7
 Percentage assigned under the
agreement
 
 
 
 
 
 
 
 
Total of percentage assigned: Total of column 3
 
Immediate expensing limit allocated to your business: Multiply 1.5 million by the percentage assigned to your business in
column 3 (see note 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iv
 
Note 7: The identification number is the EPOP's social insurance number, business number or partnership account number.
 
Note 8: If the total of column 3 is more than 100%, enter "0."
 
 Area H – Quota additions and dispositions in the year
 Total cost of all quota additions in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9929  
Total proceeds from all quota dispositions in the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9930  
 
 
T2042 E (23)   Page 7 of 8

Protected B when completed  
   
 
Chart A – Motor vehicle expenses
    
   
  Kilometres you drove in the tax year to earn farming income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  1  
  Total kilometres you drove in the tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2  
   
  Fuel and oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  3  
  Interest (use Chart B below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4  
  Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  5  
  Licence and registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  6  
  Maintenance and repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7  
  Leasing (use Chart C below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  8  
  Electricity for zero-emission vehicles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  9  
  Other expenses (specify):      10  
       11  
  Total motor vehicle expenses: Add amounts 3 to 11     12  
   
  Business use part: amount 1: x amount 12: . . . . . . . . . . . . . . . . . . . . . . . . . . . = 13  
  amount 2:    
  Business parking fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14  
  Supplementary business insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15  
  Allowable motor vehicle expenses: Add amounts 13 to 15 (enter this total on line 9819 of Part 4) . . . . . . . . . . . . . . . . 16  
       
  Note: You can claim capital cost allowance on motor vehicles in Area A.  
 
 
Chart B – Available interest expense for passenger vehicles and zero-emission passenger vehicles
    
   
  Total interest payable (accrual method) or paid (cash method) in the fiscal period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17  
   
  $10**** x the number of days in the fiscal period for which interest . . . . . . . . . . . . . . . . . . = 18  
  was payable (accrual method) or paid (cash method)    
   
  Available interest expense: Amount 17 or 18, whichever is less (include this in amount 4 of Chart A above) . . . . . . . . . . . . . . . . . 19  
       
  *** For passenger vehicles bought after 2000.  
   
   
 
Chart C – Eligible leasing cost for passenger vehicles ****
    
   
  Total lease charges incurred in your current fiscal period for the vehicle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20  
  Total lease payments deducted before your current fiscal period for the vehicle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21  
  Total number of days the vehicle was leased in your current and previous fiscal periods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22  
  Manufacturer's list price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23  
  Use a GST rate of 5% or HST rate applicable to your province.  
   
  Amount 23 or ($42,353 + GST and PST, or HST on $42,353), whichever is more (see note 9) ► x 85%  = 24  
   
  [($950 + GST and PST, or $950 + HST) x amount 22] ÷ 30 (see note 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = 25  
  Amount 25: – amount 21: . . . . . . . . . . . = 26  
   
  [($36,000 + GST and PST, or $36,000 + HST) x amount 20] ÷ amount 24 (see note 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = 27  
       
   
     
  Eligible leasing cost: Amount 26 or 27, whichever is less (enter in amount 8 of Chart A above) . . . . . . . . . . . . . . . . . . . . . 28  
       
  ***** Includes a vehicle that would qualify as a zero-emission passenger vehicle if you owned it.  
  Note 9: For leases entered into in 2022, it's amount 23 or ($40,000 plus GST and PST, or HST on $40,000), whichever is more. For leases entered into
before 2022, it's amount 23 or ($35,294 plus GST and PST, or HST on $35,294), whichever is more.		  
  Note 10: For leases entered into in 2022, amount 25 is equal to [($900 plus GST and PST, or $900 plus HST) multiplied by amount 22], divided by 30.
For leases entered into before 2022, amount 25 is equal to [($800 plus GST and PST, or $800 plus HST) multiplied by amount 22], divided by 30.		  
  Note 11: For leases entered into in 2022, amount 27 is equal to [($34,000 plus GST and PST, or $34,000 plus HST) multiplied by amount 20], divided by
amount 24. For leases entered into before 2022, amount 27 is equal to [($30,000 plus GST and PST, or $30,000 plus HST) multiplied by amount 20],
divided by amount 24.		  
   
See the privacy notice on your return.  
   
 
T2042 E (23) Page 8 of 8