Sask Wheat announces SR&ED tax credit for levy-paying producers

Feb 10, 2022

Saskatoon – The Saskatchewan Wheat Development Commission (Sask Wheat) is announcing that for the crop year ending July 31, 2021, wheat producers may claim 67.93 percent of their levy contributions to Sask Wheat as a qualifying Scientific Research and Experimental Development (SR&ED) expenditure on their federal tax return. In addition, farm corporations may also claim 48.97 percent of their levy contributions as a qualifying expenditure towards the Saskatchewan Research and Development Tax Credit program.

The SR&ED Program is a federal government program that encourages research and development by providing tax-based incentives. 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.

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. In the 2020-2021 crop year, Sask Wheat committed nearly $10.2 million to 50 projects.

Source : saskwheat

Video: Fendt Testimonial | Fendt 726 Vario Gen7 | Peter Watson Jones Ltd.

What happens when a farm buys its first Fendt? For Peter Watson Jones Ltd, the Fendt 726 Vario Gen7 has exceeded expectations from day one. For Jack, Farm Manager at Peter Watson Jones Ltd in North Shropshire, UK, the Fendt 726 Vario Gen7 wasn't just another tractor purchase. It was the farm's first experience with the Fendt brand.

Operating across a 1,200-acre arable farm alongside a 250,000-head broiler enterprise, the business has evolved significantly over the last decade, moving to a straight arable system with fewer staff and machines. Since arriving on the farm, the Fendt 726 Vario has established itself as the main drilling and cultivations tractor, earning its place through performance, versatility and efficiency. Whether it's handling large-scale cultivations or working with a new 4.5m strip-till drill, the tractor continues to impress.

Jack highlights its excellent manoeuvrability, operator comfort and ability to deliver strong pulling power at low engine speeds. The result? Outstanding fuel efficiency without compromising performance. Reliability has also been a key factor, with dependable backup from the team at TR Machinery helping to keep the tractor working when it matters most.

?? Watch as Jack shares why the Fendt 726 Vario Gen7, the farm's first Fendt, has made such a strong impression and become an integral part of their operation.