Changes Ahead with SR&ED!
In connection to the recent legislative changes proposed in the March 2012 federal budget, the Canada Revenue Agency (CRA) is expected to release the new version of the Scientific Research and Experimental Development (SR&ED) Expenditure Claim (also known as the Form T661) in October 2012. The new T661 (rev. cod 1201) will take full effect as of the 1st of January 2013.
The new Form T661(12) will be recognized as of its publication date; the old version – Form T661 (11) – will still be honored until the 31st of December 2012. After that date, only the new T661(12) will be accepted. The official CRA updates are available here.