The SVAI makes one of the world’s top value-added agricultural investment environments even more attractive. Upon the commissioning of a new or expanded facility, companies apply the benefit against CIT owing and are able to claim the benefit over a three- to 10-year period. Redemption of the benefits is limited to 20% in year one after the facility enters operation, 30% in year two, and 50% in year three. Remaining amounts can be carried forward for up to 10 years. In addition to reducing the tax paid based on 15% of qualifying capital expenditures, eligible applicants will be entitled to:
- Choose the taxation year to begin claiming the tax credit; and
- Claim any other eligible tax incentive or grant Saskatchewan may offer without impacting SVAI eligibility or impairing the ability to claim the SVAI tax credit.