News
March 7, 2017
Registered Canary Seed producers eligible for tax credit
The Scientific Research and Experimental Development (SR&ED) tax credit is a federal government program that encourages research and development by providing tax-based incentives.
For 2016, registered canary seed producers may claim 43% of their checkoff contributions as a qualifying SRED expenditure on their federal tax return.
The tax credit percentage is based on the amount the Canary Seed Development Commission has invested in research and development that meets the criteria laid out by the Canada Revenue Agency (CRA).
More information on the SR&ED program is available from Canada Revenue Agency:
www.cra-arc.gc.ca/txcrdt/sred-rsde/menu-eng.html