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This version of the form is not currently in use and is provided for reference only. Download this version of
Form T2042
for the current year.
Form T2042 Statement of Farming Activities - Canada
The Form T2042 Statement of Farming Activities in Canada is used to report income and expenses related to farming activities for individuals who earn income from farming.
The Form T2042 Statement of Farming Activities in Canada is filed by individuals who are engaged in farming activities as a business.
FAQ
Q: What is Form T2042?
A: Form T2042 is the Statement of Farming Activities in Canada.
Q: Who needs to complete Form T2042?
A: Farmers in Canada who have income and expenses from their farming activities need to complete Form T2042.
Q: What information do I need to complete Form T2042?
A: You will need to provide details about your farming income, expenses, and any other relevant information.
Q: When is the deadline to submit Form T2042?
A: The deadline to submit Form T2042 is usually April 30th of the following year. However, if you or your spouse or common-law partner carried on a business in 2020, your deadline to file is June 15, 2021.
Q: Are there any penalties for not filing Form T2042?
A: Yes, there may be penalties for not filing Form T2042 or for filing it late. It is important to meet the deadline and comply with the CRA's requirements.
Download Form T2042 Statement of Farming Activities - Canada
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