Claim Levy Contributions on Federal Tax Return
Farmers are being reminded to claim their levy contributions on their federal tax return for the crop year ending July 31, 2022.
This year the percentage that producers can claim as a qualifying SR&ED expenditure is 72.2%
In addition, farm corporations may also claim 42.7% of their levy contributions as a qualifying expenditure towards the Saskatchewan Research and Development Tax Credit program. This credit may be claimed by filing form T2SCH403.