Farmers paying the Alberta Wheat Commission checkoff are eligible to receive a credit of 17 percent for Scientific Research and Experimental Development on their 2018 taxes.
Each year, the tax credit percentage is based on the amount invested in research and development that meets the criteria laid out by the Canada Revenue Agency.
Farm individuals should use form T2038 (IND) to claim this credit when filing their taxes while farm corporations must use form T2SCH31.
Producers who have requested a refund of their checkoff are not eligible for the tax credit.
