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Tractor harvesting wheat - credit the Canadian Press

31 per cent tax credit for eligible wheat farmers on their 2020 taxes

Feb 24, 2021 | 4:03 PM

CALGARY, AB. — A tax break for Alberta wheat farmers. They may be eligible for a tax credit through the Scientific Research and Experimental Development Fund (SR&ED) program.

Anyone who pays the Alberta Wheat Commission (AWC) check-off can receive a 31 per cent tax credit for their investment in wheat research and development projects.

Farmers who paid $100 in check-off to AWC in 2020 would earn $31 in tax credit.

The tax credit percentage is based on the amount invested in research and development, which meets the criteria laid out by the Canada Revenue Agency (CRA).