Canadian Wheat Farmers Reminded to Apply for SR&ED Tax Credit

The Alberta Wheat Commission is reminding farmers who paid their check-off, that they are eligible for a 31% tax credit for their investment in wheat based R&D projects.

The tax credit size is dependent on the amount invested in R&D. The credit is earned on the annual portion of the producer’s check-off, paid to an approved research entity which carries out R&D. These entities are pre-approved to ensure they meet the CRA’s definitions of R&D. More specifically, 15% of the applicable R&D expenditure is eligible to earn an SR&ED credit for individuals and 35% for Canadian controlled private corporations.

The Alberta Wheat Commission aims to “increase the long-term profitability of wheat and Alberta wheat producers through innovative research, marker development, policy development, communications and extensions”.

Other Commissions offer similar incentives including the Barley, Oat Growers and Canola Producers.

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