6063 - 88 St NW Edmonton AB T6E 5T4, Canada info@bomcas.ca  780-667-5250

Farming & Agriculture Returns – Accounting & Tax

Sherwood Park and Edmonton Farm Tax Accounting and Agriculture Accountants

Bomcas Accounting is Sherwood Park and Edmonton Alberta Farm Tax Accounting and Agriculture Accountants Services. Bomcas Accountants specializes in Fam Tax and Accounting, Corporate Tax, Bookkeeping, Payroll for Corporate, Small and Medium size Business, Tax preparation and filing for Corporation, sole proprietorship, and individual personal income tax. We serve clients throughout St, Albert, Wetaskiwin, Leduc, Sherwood Park, Edmonton and surrounding areas.  We provide Remote, Local and virtual accounting and Tax services. 

Farming and Fishing Income

You may be operating a farming business, a fishing business, or both. If you run both a farming and a fishing business, farming and fishing income includes income earned from activities from either list below.

Farming income

Farming income includes income you earned from the following activities:

  • soil tilling
  • livestock raising or showing
  • racehorse maintenance
  • poultry raising
  • dairy farming
  • fur farming
  • tree farming
  • fruit growing
  • beekeeping
  • cultivating crops in water or hydroponics
  • Christmas tree growing
  • operating a chicken hatchery
  • operating a feedlot

In certain circumstances, you may also earn farming income from:

  • raising fish
  • market gardening
  • operating a nursery or greenhouse
  • operating a maple sugar bush
Fishing income

Fishing income includes income you earned from the following activities:

  • salt water fishing – boat owners with crewshares
  • salt water fishing – boat owners without crewshares
  • salt water fishing – sharesman
  • freshwater fishing – boat owners with crewshares
  • freshwater fishing – boat owners without crewshares
  • freshwater fishing – sharesman
  • animal aquaculture
  • sale of fish, shellfish, crustaceans or other marine products

It also includes income from:

  • grants
  • credits
  • rebates
  • subsidies
  • compensation for loss of fishing income or property
  • other income