The Minister of National Revenue, Kerry-Lynne D. Findlay met with community and business leaders this week to discuss key measures available to Canadian farmers and SMEs in the agri-business sector. Key measures identified included:
1. The Hiring Credit for Small Businesses (HCSB)
2. The Apprenticeship Job Creation Tax Credit
3. The Scientific Research and Experimental Development Program (SR&ED).
The SR&ED program allows agricultural producers to access investment tax credits (ITC) earned on contributions made to agricultural organizations that fund SR&ED. Canadian-controlled private corporations, including agri-business, can earn a refundable ITC of 35% on up to $3 million in qualified SR&ED expenditures for SR&ED carried out in Canada.
