Revenue Minister Sends Congratulations for SR&ED Changes (2001)
Reference Article (>5 Years Old)Please note that the information herein may be outdated, links could be inactive, and policies discussed may have evolved. For the most current data, consult our latest publications. If you would like us to refresh this article as it is of interest to you, please contact us. |
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
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:Â Minister Cauchon salutes industry’s contribution to SR&ED tax incentive program improvements