Subscribe

Call us: 1-844-447-7733

SR&ED Quarterly Reports Instituted (2010)

SRED Quarterly Reports

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 its 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. 

Quarterly Reports for SR&ED Instituted at the CRA

On Jan. 13, 2010, Revenue Minister Jean-Pierre Blackburn announced the Canada Revenue Agency would release quarterly reports about SR&ED claim times on its website, which would spur the department to do timely resolutions of all submissions.

“Our Government understands the importance of research and innovation to our country’s present and future economic prosperity. By offering generous investment tax credits, we are encouraging Canadian corporations to invest in innovation and to develop new products, services, and technologies,” he stated.

“CRA officials will also spend more time better explaining the SR&ED program requirements, process, and decisions to the claimants and their representatives. The emphasis on working with claimants is reflected in the new manual, which will become effective on April 1, 2010.”

Additional Steps to Improve SR&ED Process at CRA

Besides reviewing the claim, officials with the CRA will let companies know if there is work on the claim that is eligible for SR&ED, but has not been claimed already. The aim, Blackburn said, was to help companies resubmit the claim before the reporting deadline.

The minister also briefly spoke about concerns from businesses about how SR&ED decisions are made. Some have raised questions about “consistency” in accepting claims, Mr. Blackburn said.

“I want to assure you that I have listened carefully to these concerns, and I have asked CRA officials to continue working in this area and to propose additional solutions. I will be soon be announcing further enhancements to the SR&ED program as a result,” he added.

This article is based upon a Government of Canada news release issued at the time: Scientific Research and Experimental Development: “Changes will be made to improve the program,” declares Minister Blackburn

 

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.

Leave a Reply

Authors

This website is sponsored by:

Working with SR&ED since 1986.

Contact Us!

100 Gloucester Street, Suite 482
Ottawa, ON K2P 0A4
Phone: (613) 729-2828
Website: www.SREDucation.ca
Email: info@sreducation.ca

Follow us on LinkedIn

error: This content is Copyright The InGenuity Group Solutions Inc. Please contact the site administrator if you wish to use this content.