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Saskatchewan R&D Tax Credit
SK, Canada
R&D tax credit for corporations in Saskatchewan
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
- Professional, scientific and technical services
grant_single|grantors
- Government of Saskatchewan
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a refundable tax credit of 10% on qualifying research and development expenditures, up to $1 million per year.
grant_single_labels|terms_and_conditions
The Saskatchewan R&D Tax Credit encourages investment in private-sector research and development through specific financing terms tied to qualifying expenditures. The tax credit is structured to offer both refundable and non-refundable options up to an annual limit.
- A 10% refundable R&D tax credit is available for the first $1 million of annual qualifying expenditures by Canadian-controlled private corporations (CCPCs) in Saskatchewan.
- Qualifying R&D expenditures beyond this $1 million limit, as well as expenditures by other corporations, are eligible for a 10% non-refundable R&D tax credit.
- The total of refundable and non-refundable R&D tax credits is capped at $1 million per corporation per year.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$ 1,000,000
Researching renewable energy sources for remote northern communities
$ 1,000,000
Developing a new AI-driven agricultural monitoring system to optimize crop yields
$ 1,000,000
Developing a new eco-friendly packaging material to reduce plastic waste
$ 1,000,000
Innovative recycling system development for reducing construction waste
$ 1,000,000
Creating an innovative water purification system using nanotechnology for rural communities
$ 1,000,000
Development of a telemedicine platform to improve healthcare access in rural areas
grant_single_labels|admissibility
Eligibility for the Saskatchewan Research and Development (R&D) Tax Credit is determined by specific criteria related to the type of expenditures and corporation.
- The applicant must be a corporation incurring qualifying R&D expenditures in Saskatchewan.
- Saskatchewan Canadian-controlled private corporations (CCPCs) are eligible for a 10% refundable R&D tax credit for the first $1 million of qualifying expenditures annually.
- Other corporations and expenditures exceeding the annual limit are eligible for a 10% non-refundable R&D tax credit.
- The total refundable and non-refundable R&D Tax Credits claimed by a corporation must not exceed $1 million per year.
grant_eligibility_criteria|who_can_apply
The Saskatchewan R&D Tax Credit targets corporations that incur qualifying R&D expenditures in Saskatchewan. Key eligibility points include:- Canadian-controlled private corporations (CCPCs) can apply for a refundable 10% tax credit for the first $1 million of qualifying expenditures annually.- Other corporations and expenditures over $1 million are eligible for a non-refundable 10% tax credit.- The total tax credit, refundable and non-refundable, is capped at $1 million annually for each corporation.Hence, the primary eligibility is tied to the corporation's registration and R&D spending within Saskatchewan.
grant_eligibility_criteria|eligible_expenses
This grant targets private-sector investment in research and development within the province of Saskatchewan. It supports qualifying R&D expenditures by Canadian-controlled private corporations.
- Research and development activities focusing on scientific or technological advancements.
- Projects that involve innovative product or process development.
- Initiatives aimed at improving efficiency and effectiveness in existing technological systems.
- Collaborative research projects with academic or research institutions.
- Prototyping and testing of new technologies.
grant_eligibility_criteria|zone
This tax credit is specifically targeted at corporations operating within the province of Saskatchewan. Eligible companies must have qualifying R&D expenditures incurred in this region.
- Corporations located within the province of Saskatchewan.
grant_single_labels|register
Here are the steps to submit an application for the Saskatchewan Research and Development (R&D) Tax Credit:
- Step 1: Determine Eligibility
- Verify if your corporation qualifies as a Saskatchewan Canadian-controlled private corporation (CCPC) for the refundable tax credit.
- Ensure that your R&D expenditures are qualifying expenditures as per the tax credit guidelines.
- Step 2: Complete CRA Schedule 403
- Obtain Schedule 403 from the Canada Revenue Agency (CRA).
- Fill out Schedule 403 with details of your qualifying R&D expenditures.
- Step 3: Prepare Corporate Income Tax Return
- Prepare your annual Saskatchewan corporate income tax return and incorporate Schedule 403.
- Step 4: Submit Tax Return
- Submit the completed Schedule 403 along with your corporate income tax return to the CRA.
- Ensure submission is done before the tax filing deadline to claim the tax credit.
grant_single_labels|otherInfo
The Saskatchewan Research and Development (R&D) Tax Credit is aimed at incentivizing private-sector R&D investments in Saskatchewan. The tax credit applies to qualifying R&D expenditures by corporations in Saskatchewan.
- Saskatchewan Canadian-controlled private corporations (CCPCs) can claim a 10% refundable R&D tax credit for the first $1 million annual qualifying expenditures made on or after April 1, 2017.
- Qualifying R&D expenditures exceeding the annual limit, along with those by other corporations, are eligible for a 10% non-refundable R&D Tax Credit.
- The total refundable and non-refundable R&D Tax Credits that may be claimed by a corporation are capped at $1 million per year.
- Tax Credit legislation is detailed in Section 63.4 of The Income Tax Act, 2000.
- To claim the tax credit, corporations need to complete Schedule 403 from the Canada Revenue Agency (CRA) and submit it along with their annual Saskatchewan corporate income tax return.
grant_single_labels|contact
306-787-6722
