QUESTION 2 Qualified farming or fishing property is property or farming or fishing in Canada. property owned by the taxpayer, taxpayer's spouse, common-law partner, or children during the last 24m A QSBC is a Canadian-controlled private corporation (CCPC) in which more than consecuive period of months. of the fair markei value of its assets are principally used in an active business carried on primanily in A small business corporation is defined as a CCPC in which more than of the fair market value of its assets are principally used in an acive business on