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Protected B when completed
 
Chart 2015 – Capital gains deduction
 
Part 1 – Qualified farm or fishing property (QFFP) and qualified small business corporation shares (QSBCS)
 
Complete this chart if you are reporting a reserve in 2024 on dispositions of QFFP or QSBCS to your child in 2015.
 
Maximum capital gains deduction for QFFP and/or QSBCS disposed of in 2015   A
   
Capital gains deductions claimed from previous years from line 19 of Chart 2 (1)   – B
   
Capital gains deduction available for QFFP and/or QSBCS disposed of in 2015 included in  
your 2024 income: amount A minus amount B (if negative, enter "0")   = C
   
Amount from line 7 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2015) (if negative, show in brackets)    D
Amount from line 14 of Form T2017 (do not include
reserves from dispositions of QSBCS in any year
other than 2015) (if negative, show in brackets)   +  E
Taxable capital gains from a reserve on QFFP
and/or QSBCS disposed of in 2015 included in
your 2024 income: amount D plus amount E		  
(if negative, enter "0")   =   x 1/2 =   F
 
  Total amount of capital gains included in 2024  
Enter whichever is less: amount C or amount F. income eligible for capital gains deduction   G
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount G above.
If you are not reporting a reserve in 2024 from the disposition of QFFP after April 20, 2015, and
before 2016, are not bringing a reserve into 2024 income for any disposition of QFFP or QSBCS
after 2015, and are not disposing of QFFP or QSBCS in 2024, this is the maximum amount you  
can claim on line 25400 of your 2024 return. However, you can choose to claim less.   H
If you are reporting a reserve in 2024 from the disposition of QFFP after April 20, 2015, and before 2016, and amount C
above is less than the amounts on line 18 in Step 1, line 17 in Step 2, and amount G above, and you want to claim the
additional deduction, complete Part 2 of Chart 2015 on the next page.
Enter claimed amount for line 25400:  
 
(1) If you claimed a capital gains deduction for other eligible capital gains from 2015 to 2023, complete the following
calculation instead:
  • amount from line k of Chart 2 of your Form T657 for 2015, plus
  • amount of all capital gains deductions you have already claimed from 2015 to 2023 for this reserve, plus
  • amount of capital gains deductions you claimed for other gains (not the reserve) from 2015 to 2023, minus 1/2 of the
maximum LCGE increase allowed for the other gains from 2015 to the year that the other gains are reported (if negative,
use "0")
 
  Enter the result at amount B.
 
T657 E (24)
Protected B when completed
Chart 2015 – Capital gains deduction
 
Part 2 – Qualified farm or fishing property (QFFP)
 
Complete this chart if you meet both of the following conditions:
• You are reporting a reserve in 2024 from the disposition of QFFP to your child after April 20, 2015, and before 2016
• Amount C in Part 1 is equal to or less than all of the following amounts:
  – your annual gains limit for 2024 from line 18 in Step 1
  – your cumulative gains limit for 2024 from line 17 in Step 2
  – the total amount of capital gains included in your 2024 income that is eligible for the capital gains deduction from
amount G in Part 1 of Chart 2015
 
Note: For this period, there is an additional $93,200 to the capital gains deduction limit that can only be used after your
cumulative capital gains deduction of $406,800 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 after April 20, 2015, and before 2016   A
   
Total amount of capital gains included in your 2024 income eligible for capital gains deduction  
from amount G in Part 1 for 2015   – B
   
Amount A minus amount B   = C
   
Capital gains deductions from previous years from line 19 of Chart 2 (1)   – D
   
Capital gains deduction available for QFFP disposed of after April 20, 2015, and before 2016  
included in your 2024 income: amount C minus amount D (if negative, enter "0")   = E
   
Amount from line 7 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2015) (if negative, show in brackets)     x 1/2 =   F
 
Enter whichever is less: amount E or amount F.   G
 
Enter amount B from above.   + H
 
Amount G plus amount H   = I
 
  Total amount of capital gains included in 2024  
Enter whichever is less: amount F or amount I. income eligible for capital gains deduction   J
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount J above.
If you are not disposing of QFFP or QSBCS in 2024 and are not bringing a reserve into your 2024
income for any disposition after 2015, this is the maximum amount you can claim on line 25400  
of your 2024 return. However, you can choose to claim less.   K
 
Enter claimed amount for line 25400:  
 
(1) If you claimed a capital gains deduction for other eligible capital gains after April 20, 2015, to 2023, complete the
following calculation instead:
  • amount from line k of Chart 2 of your 2016 Form T657 that only includes amounts claimed before April 21, 2015, plus
  • amount of all capital gains deductions you have already claimed after April 20, 2015, and before 2016 for this reserve, plus
  • amount of the capital gains deductions you claimed after December 31, 2015, to 2023 for this reserve, plus
  • amount of capital gains deductions that you claimed for other gains (not the reserve) after April 20, 2015, to 2023, minus
1/2 of the maximum LCGE increase allowed for the other gains from 2015 to the year that the other gains are reported
(if negative, use "0")
 
  Enter the result at amount D.
   
 
T657 E (24)