Wheat producers who paid the Alberta Wheat Commission provincial checkoff and did not request a refund are eligible for a tax credit.
For the 2015 tax year, 20 per cent of the checkoff is eligible for the federal Scientific Research and Experimental Development tax incentive program. The tax credit percentage is based on the dollar amount the commission has invested in R&D that meets the criteria laid out by the Canada Revenue Agency.
Individuals should use form T2038 (IND) to claim this credit when filing their taxes and farm corporations must use form T2SCH31.
For more information, call the Canada Revenue Agency or go to cra-arc.gc.ca (search for SR&ED). Tax credits are also available for checkoffs paid to Alberta Canola Producers (11.88 per cent), Alberta Barley (17 per cent), Alberta Pulse Growers (18.5 per cent), Alberta Oat Growers (t.b.a.), and the Western Grains Research Foundation (t.b.a.).