Trends in SR&ED in Q1 of 2019 The first quarter of 2019 was relatively quiet in relation to SR&ED and the CRA. There were no major program or policy changes announced and all of the forms remained unchanged. The CRA did not announce any changes to the program in Read more…
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 SR&ED tax credit. As a result, small CCPCs with taxable Read more…
New CRA service standards were announced April 1, 2018 affecting SR&ED claims. These changes will potentially decrease wait times for some SR&ED claimants. What are service standards? Service standards are set by organizations to stipulate the standard processing times. The Canada Revenue Agency (CRA) publicly announces its service standards to Read more…
The 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 was to modify the SR&ED process to help small businesses Read more…
Things to look out for when completing the T661 form for SR&ED: If you have used a third-party claim preparer to help file your SR&ED claim, ensure you provide all the information that is requested. There is substantial paperwork to prepare when filing your taxes, including the forms required to Read more…