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 Western Canada oat producers, the Alberta Oat Development Commission is able to participate in this program and distribute these tax-based incentives to producers.
The program gives registered oat 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 2023, Alberta producers may claim 7.8% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2022, Alberta producers may claim 13.9% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2021, Alberta producers may claim 8.9% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2020, Alberta producers may claim 8.4% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2019, Alberta producers may claim 10.9% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2018, Alberta producers may claim 14.3% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2017, Alberta producers may claim 11.8% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2016, Alberta producers may claim 17.9% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2015, Alberta producers may claim 16.5% of their levy contributions as a qualifying SR&ED expenditure on their federal tax return.
- For 2014, Alberta producers may claim 14.5% 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 or T2SCH31 for farm corporations.
