SR&ED While Developing an Asset Policy. This policy was updated in December 2012 after the Canada Revenue Agency (CRA) conducted consolidated public consultation from 2010-2012. Learn more about the other SR&ED policy documents that were also updated during the CRA’s public consultations in our SR&ED Policy Review Project – Final Policy Documents Released article.
The summary from the CRA website is as follows:
An asset can be a material, device, product, or process facility. SR&ED in a commercial environment may involve the development (design, construction, and testing) of an asset. Even if an asset arises from or is being used for scientific research and experimental development (SR&ED), it does not mean that all of the work (and the associated expenditures) on that asset qualifies for the tax incentives. The development and / or use of an asset can involve SR&ED work, a mixture of SR&ED and commercial work, or only commercial work.
In the context of SR&ED, an asset can be a:
IMPORTANT: These audio materials are presented only for non-commercial informational purposes. They have been reproduced, accurately and in whole, for non-commercial purposes from the Canada Revenue Agency (CRA) Scientific Research and Experimental Development (SR&ED) Program Policies. The original CRA text versions of the policies are available at http://www.cra-arc.gc.ca/
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