2011 was the final year for my Home Based Tree Farm Business, but I still have 2 assets form the business in CCA on my return and an expense carry forward amount, how do I report these on my income tax in 2012

Answer

The assets which were owned by the business must be disposed (sold) and the proceeds will give rise to a terminal loss or a recapture of CCA.  If the asset is disposed of at its book value (UCC), then neither of the above situation applies and there is no income or loss to the business.

I am not sure what an expense carry forward amount is, perhaps a prepaid expense?
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