By Alice McFarlane

Agriculture Roundup for Wednesday March 23, 2022

Mar 23, 2022 | 12:09 PM

MELFORT, Sask. — Wheat farmers who pay the Alberta Wheat Commission (AWC) check-off are eligible for a 32 per cent tax credit through the Scientific Research & Experimental Development Fund (SR&ED) program.

Farmers who paid $100 in check-off to AWC in 2021 would earn $32 in tax credit, for example.

The federal SR&ED program supports research through tax-based incentives, giving tax credits to producers on eligible projects. The tax credit percentage is based on the amount invested in R&D that meets the criteria laid out by the Canada Revenue Agency (CRA).

Farm individuals should use form T2038 (IND) to claim this credit when filing their taxes, while farm corporations must use form T2SCH31.

Farmers can contact CRA directly, or visit the CRA website.

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Farmers who have requested a refund of their check-off are not eligible for the tax credit.

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Nominations are being accepted for the Canadian Agricultural Hall of Fame Association (CAHFA).

Inductees are chosen based on their career and volunteer contributions to the industry as well as their leadership and vision that have made a difference to agriculture in Canada and even internationally.

Nominations can come from individuals or corporate members. May 1 is the deadline for submissions.

The 2022 induction ceremony will be held on Nov. 5 in Toronto.

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Canadian Western Agribition in Regina, Sask. is searching for a new chief executive officer.

Chris Lane is leaving the farm show to take on the position as president and CEO of Economic Development Regina effective Apr. 25.

Lane has been with Agribition for the past six years. Prior to that he was a news producer with CBC in Saskatchewan, Alberta, and the Maritimes.

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alice.mcfarlane@pattisonmedia.com

On Twitter: @farmnewsNOW