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Return of Fuel Charge Proceeds to Farmers Tax Credit
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T2043
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Use this form to claim the return of fuel charge proceeds to farmers tax credit if you are a self-employed farmer or an individual who is a member of a partnership who operates a farming business with one or more permanent establishment(s) in one or more of the following designated provinces: Ontario (ON), Manitoba (MB), Saskatchewan (SK), Alberta (AB), Nova Scotia (NS), Prince Edward Island (PE), Newfoundland and Labrador (NL) or New Brunswick (NB).
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The return of fuel charge proceeds to farmers tax credit is a refundable tax credit equal to the eligible farming expenses that can be attributed to a designated province for the tax year, multiplied by the payment rate specified for the calendar year for the designated province. Members of a partnership can claim their portion of the partnership's total credit based on their specified proportion.
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If you operate multiple farming businesses, fill in only one Form T2043 and attach the applicable additional calculation chart(s) for each of your farming businesses.
- Attach this form and additional calculation chart(s), if applicable, to your income tax and benefit return.
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If you are claiming this credit for a trust, fill in this form and attach it to Form T3RET, T3 Trust Income Tax and Information Return.
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How to fill in this form
Fill in Parts 1, 2 and 5 if you have:
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one farming business with one or more permanent establishment(s) in only one designated province
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multiple farming businesses, each of which have one or more permanent establishment(s) in the same designated province
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multiple farming businesses, where, for example, one business has one or more permanent establishment(s) in only one designated province and another business has one or more permanent establishment(s) in a different designated province
Fill in Parts 1, 3, 4 and 5 if your farming business operates in more than one province or territory, where at least one is a designated province.
If you are an individual who did not incur any farming expenses, but you are a member of a partnership that incurred farming expenses, go to Part 5 and only fill in the applicable lines 67079 to 67082 and lines 67103 to 67106, as well as amounts 5C and 5D.
To fill in this form, you will need to refer to the Form(s) T2042, Statement of Farming Activities, you filed for your business(es). If you are participating in the AgriStability and AgriInvest programs, refer to the following applicable forms instead:
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Form T1163, Statement A - AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals
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Form T1164, Statement B - AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Additional Farming Operations
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Form T1273,Statement A - Harmonized AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals
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Form T1274, Statement B - Harmonized AgriStability and AgriInvest Programs Information of Statement of Farming Activities for Additional Farming Operations
Software restrictions:
Tax returns for Multiple Jurisdictions (T2203) are not currently supported. So field 67062, parts 3 and 4 are not supported and all farming businesses must be in the same province or territory.
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Chart B - Calculation of eligible farming expenses allocated to a designated province
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Note 5: |
If you are participating in the AgriStability and AgriInvest programs, enter the applicable portion of line 9959 of the applicable Form T1163, T1164, T1273 or T1274 instead.
The gross income has to be allocated in accordance with section 2603 of the federal Income Tax Regulations. Add the amounts from row 1 to the appropriate line for the corresponding designated province in Part 3 (lines 67067, 67068, , 67069, 67070, 67095, 67096, 67097 and 67098). |
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| Note 6: |
If you are participating in the AgriStability and AgriInvest programs, enter the total of line 9959 of the applicable Form T1163, T1164, T1273 or T1274 instead.
Add the total gross income of the farming business in all provinces and territories to line 67075 in Part 3.
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| Note 7: |
If you are participating in the AgriStability and AgriInvest programs, enter the applicable portion of lines 9815 and 9816 of the applicable Form T1163, T1164, T1273 or T1274 instead.
The salaries and wages paid to employees have to be allocated in accordance with section 2603 of the federal Income Tax Regulations. Add the amounts from row 4 to the appropriate line for the corresponding designated province in Part 3 (lines 67071, 67072, 67073, 67074, 67099, 67100, 67101 and 67102).
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| Note 8: |
If you are participating in the AgriStability and AgriInvest programs, enter the total of lines 9815 and 9816 of the applicable Form T1163, T1164, T1273 or T1274 instead.
Add the total salaries and wages paid to employees of the farming business in all provinces and territories to line 67076 in Part 3.
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| Note 9: |
If either the total gross income from row 2 or the total salaries and wages from row 5 is NIL, do not multiply row 7 by 50%. |
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