This post has been archived and will no longer be updated.
Some of the links on this page may no longer be active.[/message]
Recently, we posted a note regarding the public consultations that were ongoing regarding SR&ED policy review. Today is the final day for reviewing the Public Consultations – Policy on the Eligibility of Work for SR&ED Investment Tax Credits (Draft). Here at SREDucation.ca, we are concerned about some of the changes that are implied in the new text.
In particular, there are inconsistencies between many of the definitions and a severe lack of clarity in many of the revised sections. Furthermore, there is a real concern that these policy changes may go directly against the Reducing Red Tape initiative, and actually increase the level of documentation required for the companies.
We have prepared a detailed critique of the new policies, focusing on our main points of concern. Click here to access it in PDF form — InGenuity Group’s Submission to the CRA re: SR&ED Eligibility.
If you have not done so already, please submit your feedback to the CRA. These changes aren’t simply going to affect “some other company”. They will affect everyone who is involved in developing new innovative products and processes in Canada, as well as those who provide supporting services.
Want more information on what these changes could mean for your SR&ED projects? Contact a professional.
This article is presented for informational purposes only and does not constitute legal advice. You should retain legal counsel if you require legal advice regarding your individual situation.