Alberta wheat and barley farmers who pay check-off through Alberta Grains and do not request a refund are eligible for a tax credit through the Scientific Research and Experimental Development (SR&ED) program for their investment in Alberta Grains-funded research and development (R&D) projects. The tax credit percentage is based on the dollar amount Alberta Grains has invested in R&D that meets the criteria laid out by the Canada Revenue Agency (CRA).
The SR&ED Program is a federal tax incentive program administered by the CRA, designed to encourage Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada. Alberta Grains research investments focus on genetic and agronomic improvements aimed at improving the long-term profitability of Alberta’s grain producers.
Farm individuals should use form T2038 (IND) to claim this credit when filing their taxes and farm corporations must use form T2SCH31.
For more information contact the CRA directly, or click here.
Producers who have requested a refund of their check-off are not eligible for the tax credit.