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Protected B when completed
 
Chart 2016 – 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 2016.
 
Maximum capital gains deduction for QFFP and/or QSBCS disposed of in 2016   A
   
Enter the last amount that you calculated for "Total amount of capital gains included in 2024  
income eligible for the capital gains deduction" from Chart 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 and/or QSBCS disposed of in 2016 included in  
your 2024 income: amount C minus amount D (if negative, enter "0")   = E
   
Amount from line 6 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2016) (if negative, show in brackets)    F
Amount from line 14 of Form T2017 (do not include
reserves from dispositions of QSBCS in any year
other than 2016) (if negative, show in brackets)   +  G
Taxable capital gains from a reserve on QFFP
and/or QSBCS disposed of in 2016 included in
your 2024 income: amount F plus amount G		  
(if negative, enter "0")   =   x 1/2 =   H
 
Enter whichever is less: amount E or amount H.   I
 
Enter amount B from above.   + J
   
Total amount of capital gains included in 2024    
Amount I plus amount J income eligible for capital gains deduction   = K
 
Enter whichever is less: line 18 of Step 1, line 17 of Step 2 or amount K above.
If you are not reporting a reserve in 2024 income from the disposition of QFFP in 2016, are
not bringing a reserve into your 2024 income for any disposition of QFFP or QSBCS after 2016,
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.   L
If you are reporting a reserve in 2024 from the disposition of QFFP in 2016 and amount E above is equal to or less than
the amounts on line 18 of Step 1, line 17 of Step 2, and amount K above, and you want to claim the additional deduction,
complete Part 2 of Chart 2016 on the next page.
Enter claimed amount for line 25400:  
 
(1) If you claimed a capital gains deduction for other eligible capital gains from 2016 to 2023, complete the following
calculation instead:
  • amount from line k of Chart 2 of your Form T657 for 2016, plus
  • amount of all capital gains deductions you have already claimed from 2016 to 2023 for this reserve, plus
  • amount of capital gains deductions that you claimed for other gains (not the reserve) from 2016 to 2023, minus 1/2 of the
maximum LCGE increase allowed for the other gains from 2016 to the year the other gains are reported
(if negative, use "0")
 
  Enter the result at amount D.
 
T657 E (24)
Protected B when completed
Chart 2016 – 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 in 2016
• Amount E 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 K in Part 1 of Chart 2016
 
Note: For 2016, there is an additional $87,912 to the capital gains deduction limit that can only be used after your
cumulative capital gains deduction of $412,088 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 2016   A
   
Enter amount K from Part 1 of Chart 2016.   – 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 in 2016 included in your 2024 income:  
Amount C minus amount D (if negative, enter "0")   = E
   
Amount from line 6 of Form T2017 (do not include
reserves from dispositions of QFFP in any year
other than 2016 (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 2016, 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 from 2016 to 2023, complete the following
calculation instead:
  • amount from line k of Chart 2 of your Form T657 for 2016, plus
  • amount of all capital gains deductions you have already claimed from 2016 to 2023 for this reserve, plus
  • amount of capital gains deductions that you claimed for other gains (not the reserve) from 2016 to 2023,
minus 1/2 of the maximum LCGE increase allowed for the other gains from 2016 to the year the other gains are reported
(if negative, use "0")
 
  Enter the result at amount D.
   
 
T657 E (24)