Source: Alberta Wheat Commission
Wheat farmers who pay the Alberta Wheat Commission (AWC) check-off are eligible for a 31 per cent tax credit through the Scientific Research & Experimental Development Fund (SR&ED) program for their investment in wheat research and development (R&D) projects. For example, farmers who paid $100 in check-off to AWC in 2019 would earn $31 in tax credit.
The federal SR&ED program encourages R&D investment through tax-based incentives, giving claimants tax credits for their expenditures on eligible R&D work. The tax credit percentage is based on the amount invested in R&D that meets the criteria laid out by the Canada Revenue Agency (CRA).
For more information, contact the Canada Revenue Agency directly, or visit the CRA website.
Producers who have requested a refund of their check-off are not eligible for the tax credit.
For more information about claiming the SR&ED credit, please contact:
Syeda Khurram, CFO
Alberta Wheat and Barley Commissions