Federal Budget Changes to SR&ED (2008)
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At SREDucation, we’re taking the time to document all of the changes that have occurred to the SR&ED program over the years. In our “From the Archives” series, you’ll be able to see how the program has evolved since it’s inception in 1986. For a timeline of these events, check out the SR&ED Tax Credit page on Facebook. Stay current with the program by understanding the historical context.Â
Federal Budget Changes to SR&ED in 2008
On Feb. 26, 2008, the federal government announced several changes to SR&ED intended to make the tax credit more effective for interested businesses.
More funding (the amount was not disclosed in a press release) was added to SR&ED “to increase the program’s scientific capacity and level of service to claimants.”
More SR&ED Personnel
Changes the government released included:
- Bumping up research and technology advisers, as well as research and technology managers. This was supposed to give these people more time to spend on SR&ED claims, speaking to businesses and doing services;
- Giving training and support to these advisers and managers;
- “Enhancing the quality assurance methodology”;
- Determining the effectiveness of current ways of resolving disputes.
More Technology to Support SR&ED Claim Process
Additionally, the budget encouraged the Canada Revenue Agency to continue with measures such as:
- Making the SR&ED claim form and guide simpler to understand;
- Creating a self-assessment tool to determine if a business is eligible;
- Taking a look at SR&ED’s policies and procedures and making changes, where necessary.
The changes followed on from months of industry consultations, the federal government stated.
This article is based upon a Government of Canada news release issued at the time:Â 2008 Federal Budget Commitments related to the SR&ED Program