Effective 1 January,2017, the income tax treatment of farm quota and other eligible capital property (ECP) underwent a complete overhaul. First announced in the 2016 Federal Budget, the ECP was formally replaced by capital cost allowance (CCA) class 14.1 on January 1, 2017. With many farmers and farm corporations' 2017 with fiscal year-ends now approaching, farmers should be aware of the implications of these changes to their businesses.
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