Updates to SR&ED Program

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. 

Revenue Minister Congratulates CRA on SR&ED Changes

On May 30, 2001, Revenue Minister Martin Cauchon thanked those business representatives that assisted the government in making changes to the SR&ED program.

He spoke at an industry conference, saying that his speech was an indicator of the end of the government’s action plan on SR&ED, first launched in 1998.

“We could not have achieved the results we have without the close relationship that has developed between industry and the (government),” he stated in a press release.

“Collaboration and partnership are the keys to making sure that the SR&ED Program continues to be delivered in an effective, responsive, and fiscally responsible manner.”

Key Recommendations for SR&ED

Some of the main principles of the 1998 SR&ED Action Plan included:

  • Aiming for client satisfaction;
  • Keeping talks open between industry and Revenue Canada, to make sure business concerns were addressed;
  • Overhauling dispute resolution procedures to resolve them as quickly as possible;
  • Making the SR&ED program independent from Revenue Canada’s audit committee;
  • Putting in a steering committee made up of Revenue Canada and industry representatives;
  • Having sector-specific committees.

The aim was to improve relations between industry and government.

This article is based upon a Government of Canada news release issued at the time: Minister Cauchon salutes industry’s contribution to SR&ED tax incentive program improvements

 

Do you have questions about SR&ED history or current trends?
Contact us directly or start a discussion on our LinkedIn group.
Better yet, sign up for the Comprehensive Guide to SR&ED.


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