Are there any exceptions to the income eligibility requirements for the Farm Class Tax Rate?
If your gross farm income fell below $7000 you may still be eligible for the 25% tax rate if: • The applicable year was not a normal production year, but if it had been, the gross farm income would have been over $7000; or • As a result of age or illness of the owner or his/her spouse, or the death of the owner s spouse or same sex partner, gross farm income fell below $7000 in the applicable year. The person carrying on the farm business must be the property owner, the farm business must have generated an income greater than zero and be reported to Canada Revenue Agency for income tax purposes, must have been operated by the owner for at least ten years and the owner must have qualified for and received, the farm property class tax rate during this time; or • You are starting your farm operation and have not yet met the $7,000 income criteria you may be eligible for a start-up exemption. To qualify for this exemption, you must clearly demonstrate that the operation will gross the $7,0
