Some Alberta barley farmers qualify for 17% SR&ED credit
Industry association Alberta Barley leads R&D for the regions farmers, which makes them eligible for SR&ED credits
CALGARY, Alta—Alberta barley farmers who did not request a refund of their check-off dollars will qualify for a 2014 Scientific Research and Experimental Development (SR&ED) tax credit.
The SR&ED tax credit allows farmers to claim the portion of their check-off dollars used to fund research. The rate for the 2014 tax year is 17 per cent.
“Crop research and innovation substantially increase crop yields and improves farmers’ bottom lines,” said Alberta Barley Research Committee Chair and Region Five Director-at-Large Richard Mueller. “As an added benefit for Alberta’s barley farmers, 17 per cent of the money that they’ve invested through check-off dollars is eligible to earn this tax credit.”
Research is Alberta Barley’s number one, farmer-driven investment to maximize barley’s potential. Alberta Barley funds and participates in a variety of important agricultural research projects that aim to create new opportunities for Alberta barley farmers now and in the future. These projects are detailed on www.albertabarley.com/research.
“I want to thank Alberta barley farmers for entrusting their check-off dollars with us,” said Alberta Barley Vice-Chairman Jason Lenz. “By investing in Alberta Barley’s research projects, each grower is contributing to the future of their farm and the future of barley.”
To learn more about the program, visit the Canada Revenue Agency website at http://www.cra-arc.gc.ca/txcrdt/sred-rsde/menu-eng.html.