Alberta Barley advises farmers that 17 per cent of their 2017 checkoff payment is eligible for the Scientific Research & Experimental Development (SR&ED) tax credit. Farmers must include Form T661 with their tax return along with either Form T2SCH31 (incorporated businesses) or Form T2038 (individuals).
Farmers can learn more about the SR&ED program by visiting the Canada Revenue Agency website.
Credits are also available for producers who paid checkoffs for wheat (21 per cent of the checkoff is eligible), canola (14.32 per cent), pulses (check albertapulse.com) and oats (11.8 per cent).
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