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 paid and are able to claim the benefit over a three- to 10-year period. Redemption of the benefits is limited to 20 per cent in year one after the facility enters operation, 30 per cent in year two, and 50 per cent in year three, following the taxation year in which a Certificate of Eligibility is issued. Remaining amounts can be carried forward for up to 10 years.
In addition to reducing the tax paid based on 15 per cent of qualifying capital expenditures, eligible applicants will be entitled to 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.