Canary Seed Development Commission of Saskatchewan
 

News

February 18, 2020

Canary seed producers eligible for 53 per cent 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 2019, Canary seed producers may claim 53 per cent of their checkoff contributions as a qualifying SR&ED expenditure on their federal tax return.

The tax credit percentage is based on the amount the Canary Seed Development Commission of Saskatchewan has invested in research and development that meets the criteria laid out by the Canada Revenue Agency (CRA).

The percentage was reduced for 2018 due to some major research invoices that did not arrive until after the fiscal year end. These expenditures boosted the SR&ED available for 2019.

More information on the SR&ED program is available from Canada Revenue Agency: www.canada.ca/en/revenue-agency/services/scientific-research-experimental-development-tax-incentive-program.html


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