Reading Time: < 1 minute Wheat producers who pay checkoff through the Alberta Wheat Commission and do not request a refund are eligible for a 74 per cent tax credit through the Scientific Research and Experimental Development Fund (SR&ED) program for their investment in wheat research and development projects. For example, producers who paid $100 in checkoffs to AWC in […] Read more
Wheat producers can claim tax credit on checkoffs
Those who paid $100 in checkoffs to AWC in 2022 would earn $74 in tax credit
Business leaders back tax credit to spur more agri-processing
Province to offer 12 per cent tax credit for large-scale value-added projects
Reading Time: 3 minutes A new provincial tax break aimed at boosting the province’s agri-processing sector is getting a thumbs up from business leaders. “We are truly involved in a global economy that includes a rise in demand for food exports,” said Rich Vesta, owner of Harmony Beef, who hosted a government press conference announcing the tax credit. “With […] Read more
Alberta plans new ag processing tax credit
Incentive to be introduced in 2023 budget
Alberta has telegraphed plans for a new provincial tax credit in its upcoming budget to spur development in the ag processing sector. The province on Tuesday announced plans for what it calls the Alberta Agri-Processing Investment Tax Credit — a 12 per cent, “non-refundable” tax credit for corporations making capital investments in “value-added agri-processing” in […] Read more
U.S. biodiesel industry struggles without subsidy
New York | Reuters — When John Whittington shut his Indiana biodiesel plant this week, he knew the move would leave all 14 of his workers there looking for jobs heading into the U.S. holiday season. But he felt he had no choice. A $1-per-gallon subsidy that had been propping up the industry since 2005 […] Read more
Canola checkoff tax credit available
Reading Time: < 1 minute Canola growers who didn’t ask for a checkoff refund last year can get a tax credit for the portion used for qualifying research. The tax credit rate for Alberta canola producers in 2018 is 17.43 per cent. That means a grower who paid $100 in canola checkoffs would receive a $17.43 tax credit. The Scientific […] Read more
U.S. biodiesel lobby drops effort to adjust tax credit
Chicago | Reuters — The biggest U.S. biodiesel lobbying group has dropped its nine-year push to convert a US$1-per-gallon tax credit available to blenders of the biofuel into one for producers, the vice-president of federal affairs said on Friday. The tax credit benefits companies that blend biodiesel into fuel sold at U.S. gas stations. It […] Read more
Tax credit for canola checkoffs
Reading Time: < 1 minute Alberta Canola is reminding its members that they can get a tax credit on a portion of the checkoffs they paid in 2017. The Scientific Research and Experimental Development tax credit allows canola growers to claim the portion of the checkoff used to fund qualifying research. “Farmers are funding research into finding solutions to agronomic […] Read more
Quebec’s winter trails to remain open as tax reform halted
Snowmobile trails going through farmland owned by members of Quebec’s Union des producteurs agricoles (UPA) will remain open as the province hits the brakes on changes to its farmland property tax credit plan. UPA members had recently pledged to revoke previously-permitted access to their land for snowmobile trails starting Monday (Feb. 6) in a dispute […] Read more
The lowdown on tax filing for farmers
That time of year is coming around again — here are some things to bear in mind as you prepare your tax return
Reading Time: 2 minutes If you raise a few farm animals or have a plot to grow your own food, you are considered a hobby farmer, rather than a business, and you can’t deduct any expenses or losses. But if you devote the majority of your time to farming by investing in buildings, machinery, and inventories to run the […] Read more
Farm business tax credits on tap in Manitoba budget
Expansions and extensions for tax credits of use to Manitoba farmers and small agribusinesses were laid out Thursday in the province’s latest budget. Finance Minister Greg Dewar’s plan calls for an expansion of the province’s small business venture capital tax credit, broadening its list of eligible businesses to include “non-traditional farming” ventures, as well as […] Read more
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