“The research tax credit rates for producers who contributed to the western wheat and barley check-offs in 2015 are: 74% for wheat and 73% for barley,” says Garth Patterson, Executive Director of the Western Grains Research Foundation.
The federal government’s Canada Revenue Agency (CRA) determines the annual eligible tax credit under its Scientific Research and Experimental Development (SR&ED) Program. This provides producers with the opportunity to get a tax credit for their check-off investments.
For more information on the process of claiming tax credits, please consult your accountant or the Canada Revenue Agency directly. For information on the federal SR&ED investment tax credit, visit http://www.cra-arc.gc.ca/txcrdt/sred-rsde/clmng/clmngsrd-eng.html