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Tax Credit Available to Qualified Alberta Pulse Growers (PCN Spring 2015) MAR 25 2015 | Consumers and Producers | Pulse Crop News

This article appeared in the Spring 2015 issue of Pulse Crop News.

Alberta pulse growers who paid service fees, or check-off, are eligible for the Scientific Research and Experimental Design (SR&ED) Tax Credit in the amount of 17.5 per cent for 2013-14.

The SR&ED Tax Credit can be earned on the portion of the producers’ service fees which were paid to an approved research entity as determined by the Canada Revenue Agency (CRA). Each year, a percentage of the Alberta Pulse Growers investment into research is calculated for the per cent eligible for that tax year. Producers who have paid check-off this past year and have not asked for refunds are eligible claimants for this year’s credit.

For the 2013-14 fiscal year, 17.5 per cent of pulse check-off fees that were deducted from a producer’s cash ticket are eligible for the tax credit. The SR&ED Tax Credit application form can be downloaded directly from the CRA website at Individual producers need to apply using the form T2038 (IND) and Canadian controlled private corporations should utilize the form T2SCH31. Individuals have 17.5 months from the end of their fiscal year to apply retroactively.

For more detailed information about the SR&ED Tax Credit APG advises you to contact an accountant or the Canada Revenue Agency. For a history of SR&ED with Alberta Pulse Growers visit producers/research-and-trials/sredtax-credit.