In this blog post, we discuss the cancellation of the SR&ED tax credit incentive program in Alberta’s 2019 budget released on October 24th and the reactions illustrated in the media. While some commentators have voiced their displeasure with the changes,...
Read moreLast March, the Department of Finance Canada released its 2018 Report on Federal Tax Expenditures. In previous years, the projected figures of the federal government’s revenue being spent on the SR&ED tax credit had been declining. What does this year’s...
Read moreThe last time that a major report came out offering recommendations to the SR&ED program, the effect was profound. In 2011, Innovation Canada: A Call to Action – colloquially known as the Jenkins Report was released. One of the recommendations...
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On March 19, 2019, the Liberal government Finance Minister, Bill Morneau, released the Federal Budget 2019. It proposed repealing the use of taxable income as a factor in determining a CCPC’s annual expenditure limit for the purpose of the enhanced Read more…
In the Canada Revenue Agency’s T661 SR&ED Tax Claim form, you’re asked to chart your technical narrative, beginning with your encounter with uncertainty. In Line 242, the T661 asks what “scientific or technological uncertainties did you attempt to overcome” during Read more…
The Canada Revenue Agency’s Scientific Research and Experimental Development Tax Credit program requires you to fill out an application regarding your claimed project so you can receive your tax credit. While other sections of the SR&ED application ask you to Read more…
By now, you know you can avoid SR&ED stress by keeping clear, contemporaneous records of your claimed project. This is no different when filling out Lines 600 to 618. In Section 7, the CRA asks that you estimate “the percentage Read more…
This post outlines the updates to the program from July to September 2019, including administrative, policy, tax law, and court cases. We have identified some key trends to watch in the SR&ED environment. Administrative, Policy, and Legislative The third Read more…