Wheat farmers paying the Alberta Wheat Commission (AWC) check-off are eligible for a tax credit through the Scientific Research & Experimental Development (SR&ED) program for their investment in AWC funded research and development (R&D) projects. The rate for the 2018 tax year is 17 per cent.
AWC-funded research focuses on genetic and agronomic improvements aimed at improving the long-term profitability of Alberta’s wheat producers.
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.
Source: Alberta Agriculture and Forestry