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New Member
posted Oct 31, 2019 5:06:46 AM

What is AgrilInvest Fund, and why is automatically added to my Other Income statement?

0 3 1692
3 Replies
New Member
Oct 31, 2019 5:06:48 AM

This was likely added when you Autofilled your return

You should find all the details here : http://www.agr.gc.ca/eng/?id=1291906709089#id1-10 

How are AgriInvest funds treated for tax purposes?

The AgriInvest account consists of two funds. Producer deposits, which are held in Fund 1, are not taxable upon withdrawal. Government contributions and interest earned on both funds, which are held in Fund 2, are taxed as investment income upon withdrawal.

Note: All participants must report withdrawals from Fund 2 as investment income to the Canada Revenue Agency, except Canadian-Controlled Private Corporations, who deduct income from Fund 2 from investment income and add it to active business income.

New Member
Mar 19, 2023 3:53:42 PM

It's 2023 and the line is still there, even though I have nothing to do with it... 

Moderator
Mar 20, 2023 4:11:58 PM

@AlenP If you manually entered an amount for “Other Income”, you may have put it on the wrong line. That page has 2 spaces to add amounts, the top one being for Agrilnvest (a program for farmers). The second line where most “Other Income” should go. We have brought this layout issue up with our design team, but we don’t have a timeframe as to when the page will be changed.

 

To remove the amount from Agrilnvest:

1. In the upper-right corner of your screen, select “Find”.

2. In the Find window, type in “Other Income”, select “Other Income Sources” from the list and click “Go”.

3. Remove any amounts from the top box (Agrilnvest).

4. Enter your “Other Income” amount with a description in the second line.

5. Click the “Continue” button to save.