What is the implication of claiming unrestricted farm income? I do have other employment income, but farming is my main activity.

So, the guide tells me to claim a restricted farm loss if farming is not my main source of income.  I have a farm loss, and other self-employment income that shows a loss too.  The gross revenue from farming is much higher, and that's what I consider to be my main job, however obviously I'm building both of these businesses so I'm not making any income- my husband is the breadwinner while I do this and raise the kid.  I also claim rental income.  Am I wrong in considering this my main income if I am financially dependent on my husband?  Do I have to declare this as a restricted farm loss if I have the net income from rental income greater than my farming loss, even though my farming income before expenses is much higher?  

Answer

You would need to run this scenario by a CRA agent. 1-800-959-8281

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