SR&ED Investment Tax Credit for Registered Wheat Producers

The Scientific Research and Experimental Development (SR&ED) Program is a federal government program that encourages research and development by providing tax-based incentives.

By using levy contributions to finance research and development work that benefits Saskatchewan wheat producers, Sask Wheat is able to participate in this program and distribute these tax-based incentives to producers.

The program gives registered wheat producers access to investment tax credits (by means of cash refunds and/or reduction to taxes payable) for their levy contributions that are spent on qualifying research.

For 2016, producers may claim 19.07% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return. 

Investment tax credits may be claimed by filing form T2038 (IND) for farm individuals orT2SCH31 for farm corporations.

In addition, farm corporations may also claim 17.55% of their levy contributions as a qualifying expenditure towards the Saskatchewan Research and Development Tax Credit program. This credit may be claimed by filing form T2SCH403.

Producers that have requested a refund of their levy are not eligible for either tax credit.

More information about the Scientific Research and Experimental Development (SR&ED) Tax Incentive Program may be obtained from the Canada Revenue Agency:

Click here for SR&ED info on the Canada Revenue Agency Website

More information about the Saskatchewan Research and Development Tax Credit is available from the Government of Saskatchewan:

Click here for SR&ED info on the Government of Saskatchewan website

For information on the SR&ED tax credit for other Saskatchewan crops, please click on the links below:

SR&ED Tax Incentive Program

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