Income Tax Act, RSC 1985, c 1.

This Act makes provision for the calculation and collection of income tax in Canada and related matters. It concerns, among other things, taxation for farming or fishing business, including taxpayers that have basic herd of a class of animals and disposes of an animal of that class in the course of carrying on a farming business. It provides for deductions for taxpayers that improve land for farming (clearing land, levelling land or installing a land drainage system for the purposes of the business); it dedicates a section to agricultural cooperatives; it regulates transfer of family farm and fishing corporations and partnerships; leased farm or fishing property, among others.