21% tax credit available for Alberta’s barley farmers
(Calgary, Alberta) Feb. 21, 2017 – Alberta barley farmers who did not request a refund of their check-off dollars will qualify for a 2016 Scientific Research and Experimental Development (SR&ED) tax credit.
The SR&ED credit allows farmers to claim the portion of their check-off dollars used to fund research. The rate for the 2016 tax year is 21 per cent.
“Investments in research are direct investments in our industry and farms,” said Alberta Barley board chair Jason Lenz. “21 per cent of the money Alberta Barley’s farmers have invested in check-off dollars is eligible for this tax credit.”
Research is Alberta Barley’s No. 1, farmer-driven investment to maximize barley’s potential. Alberta Barley funds and participates in more than 40 research projects that aim to create new opportunities for its members now and in the future. These projects are detailed on www.albertabarley.com/research.
“I want to thank Alberta barley farmers for entrusting their check-off dollars with us,” said Alberta Barley vice-chair David Bishop. “By investing in Alberta Barley’s research projects, each farmer is contributing to the future of their operation and the future of barley.”
To learn more about the program, visit the Canada Revenue Agency website.
For more information, contact: