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Farm Business Registration number
A valid 2007 Farm Business Registration number is required for the farm business operating on the land, unless one of the income exemption applies and is granted (see below). Under the Farm Registration and Farm Organizations Funding Act, a farm business generating Gross Farm Income of at least $7,000 as reported to Canada Revenue Agency for income tax purposes must register annually with AGRICORP. Continued eligibility for the Farm Property Class tax rate requires the yearly renewal of the Farm Business Registration number. |
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