Saskatchewan Research and Development (R&D) Tax Credit
No fixed amount
Tax Credit
Description:
The Saskatchewan Research and Development (R&D) Tax Credit is designed to encourage private-sector R&D investment in Saskatchewan. It is available in respect to qualifying R&D expenditures incurred by corporations in Saskatchewan.
Comments on Funding:
1. Qualifying R&D expenditures by Saskatchewan Canadian-controlled private corporations (CCPCs) will be eligible for a 10% refundable R&D tax credit for the first $1 million annual qualifying expenditures made on or after April 1, 2017;
2. Qualifying R&D expenditures in excess of the annual limit, as well as qualifying expenditures by other corporations are eligible for a 10% non-refundable R&D Tax Credit;
3. The total refundable and non-refundable R&D Tax Credits that may be claimed by a corporation will be limited to $1 million per year
Rolling deadline
Eligibility:
Applicants must:
1. be Saskatchewan Canadian-controlled private corporations (CCPCs);
2. have incurred qualifying R&D expenditures.
Application Steps:
To claim this tax credit, Applicants must:
1. Complete Schedule 403, which can be obtained from the Canada Revenue Agency (CRA).
2. Submit this schedule to CRA when they file annual Saskatchewan corporate income tax return.
Documentation Needed:
Applicants must submit a completed Schedule 403.
Other Things to Note:
About the author
Maurice
