SR&ED Policy Changes – Call to Action
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Research and Development Tax Credit Expert Panel
In our last post, we discussed the changes to the SR&ED policy. It’s not too late – you can still let the government know how important SR&ED is to your organization. Many are unaware that back in December 2010, the federal government convened an Expert Panel to review federal support of Research and Development in Canada. What’s important is that the Expert Panel is still reviewing inputs and is open to further feedback. Make your opinions heard to ensure a) that there is continued, unwavering support for SR&ED, and (at a minimum) b) preserve the existing tax credit levels. There are three main ways you can have your voice heard:
1) Contribute to a group providing feedback.
The BC Tech Association (formerly BCTIA) is still gathering feedback to supplement the original submission via LinkedIn® by answer the following questions:
a) How important of a role has SR&ED played in the success of your tech company?
b) What impact would you have faced had you NOT had access to SR&ED?
The CATA Alliance is also preparing a report – their group on LinkedIn® is closed to outsiders, but can be viewed here.
2) Blaze your own trail.
a) Submit directly to key politicians. Follow the example of the CME (Canadian Manufacturers and Exporters) who recently submitted a scathing review (Press Release, Report) of the proposed changes. These include:
Minister of Finance – The Honourable Jim Flaherty
Minister of National Revenue – The Honourable Gail Shea
Minister of Industry – The Honourable Christian Paradis
Minister of State for Science and Technology – The Honourable Dr. Gary Goodyear
b) Contribute to the Expert Panel. You can use the official route to provide feedback about the changes via firstname.lastname@example.org
To make sure the individuals reviewing the report and get the information they require, use the guiding questions from the Expert Panel on SR&ED, visible on pages 16-17 in their Consultation Paper (.pdf). There are many groups who have already submitted and can get you started if you need ideas.
3) Promote & Raise Awareness.
Tell your peers in the industry. Share this information via LinkedIn®, Twitter, and other social media sites. Information in isolation means nothing – it’s when it spreads that it has an impact and the government takes note. Let’s be honest – many of the jobs would move south or offshore if it weren’t for the competitive edge this provides to companies. This will affect everyone involved in R&D in Canada. Make your voice heard – time is running out.
Other interested parties are also raising very valid concerns and you can find them here and here.
2 thoughts on “SR&ED Policy Changes – Call to Action”
Thank you for another essential article. Where else could anyone get that kind of information in such a complete way of writing? I have a presentation incoming week, and I am on the lookout for such information. find more…
Hi Gracee, unfortunately there aren’t very many good sources of information out there (this is one of the reasons why we started SREDucation.ca). You can subscribe to the CRA mailing list, but it’s really not that helpful aside from basic changes to the program. If you have any specific questions, send us a message and we’d be happy to help you out.