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Tag Archives Tax credit

Crops, Oilseeds

Investment Tax Credits Available

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Producers are entitled to obtain taxable benefits on canola checkoff deductions that are used to support research and development. Individual producers are entitled to claim investment tax credits at 20 per cent and the corporate producer rate for Canadian Controlled Private Corporations (CCPC) is 35 per cent. For the Manitoba Canola Growers Association, only part
News

Riparian Tax Credit Program Continues

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Manitoba agricultural producers with land bordering a waterway are once again eligible to apply for the Riparian Tax Credit. “Last year, we doubled the Riparian Tax Credit and simplified the rules for cattle producers,” said Finance Minister Rosann Wowchuk in a release. “Our government believes that during these times of economic recovery it’s more important
Cereals, News

Supporting Research Lowers Your Taxes

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The federal government annually provides a Scientific Research and Experimental Development (SR&ED) tax credit to producers offering them money back on their checkoff investments. The tax credit percentage for producers who contributed to the Wheat and Barley Checkoff (administered by the Western Grains Research Foundation) in 2009 are 83 per cent for wheat and 76
Country Crossroads

New Regulation Improves Access To Capital

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Agriculture, Food and Rural Initiatives Minister Rosann Wowchuk has announced a new regulation to provide Manitoba businesses with increased access to capital under the Community Enterprise Development Tax Credit. “This program provides Manitobans with valuable personal tax credits for investing in community-based projects,” said Wowchuk. “We are now doubling the value of shares a business
Cereals, Crops

WGRF Tax Credits Announced

Checkoff dollars paid on Manitoba wheat and barley will yield slightly less of a tax credit for eligible farmers this spring. The Western Grains Research Foundat ion (WGRF), which administers the wheat and barley checkoff, says that the tax credit percentage for farmers who paid into the checkoff fund in 2008 will be 80 per
News

Research tax credit filing simplified

Small businesses such as farms are expected to take greater advantage of Canada’s scientific research and experimental development (SR&ED) tax credit through a streamlined application process. The Canada Revenue Agency on Nov. 17 announced changes to the application process, including a more “user-friendly” format for submitting information on a potentially eligible research or development project.

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