The federal government annually provides a Scientific Research and Experimental Development (SR&ED) tax credit to producers offering them money back on their check-off investments.
The tax credit percentage for producers who contributed to the western wheat and barley check-off in 2014 are: 74% for wheat and 74% for barley.
The percentages above are calculated by looking at the amount of the check-off dollars spent directly on research. This is then determined to be the eligible portion.
For more information on claiming your SR&ED tax credit, please consult your accountant. For more information on the SR&ED investment tax credit, visit the Canada Revenue Agency website www.cra-arc.gc.ca/sred/