Qualified Alberta Pulse Growers Eligible for 18.1% Tax Credit for Investing in Research JAN 20 2022 | Producers | News Release
The Alberta Pulse Growers Commission has confirmed that 18.1% of eligible producers’ 2021 check-off payment is eligible for the Scientific Research & Experimental Development (SR&ED) tax credit for their investment in APG-funded research and development projects.
Producers who have paid check-off this past year and have not asked for refunds are eligible claimants for this year’s credits.
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 https://albertapulse.com/growing-pulses/sred-tax-credit/ . A summary of APG research investments in 2020-21 is available at https://albertapulse.com/research/.
The federal SR&ED tax program is administered by the Canada Revenue Agency (CRA) and encourages businesses to invest in and perform research and development in Canada.
The SR&ED Tax Credit application form can be downloaded directly from the CRA website at https://www.canada.ca/en/revenue-agency/services/scientific-research-experimental-development-tax-incentive-program/claim-sred-tax-incentive-how-claim.html . Individual producers need to apply using the form T2038 (IND) and Canadian controlled private corporations should utilize the form T2SCH31.
The Alberta Pulse Growers Commission represents 6,500 growers of field pea, dry bean, lentil, chickpea, faba bean and soybean in Alberta. Our vision is to have pulses on every farm, on every plate.
For more information, please contact:
Rachel Peterson, Communications Coordinator
Phone: 780-986-9398 ext. 108