Updated to Reflect New Policies (2022)
*** Some of the policies referenced were updated 2021-08-13. This article has been updated and is accurate as of 2022. ***
This post outlines SR&ED program updates from April-June 2021, including administrative, policy, tax law, and court cases. Covid-19 continued to be a factor in the country for the quarter but with increasing vaccinations and decreasing cases business has begun to return to some semblance of normality once again. We have identified some key trends to watch in the SR&ED environment.
SR&ED Education and Resources Articles
SR&ED Education and Resources spent the April-June 2021 spring months providing helpful guidance on how to navigate the dreaded SR&ED review, in the hopes of further illuminating the world of SR&ED.
- First, we educated our readers on what to expect during an SR&ED review, how it works, and what the expectations are of you as the taxpayer and of the reviewers in SR&ED Review – What to Expect.
- Next, we introduced our readers to the taxpayers’ ombudsperson and how they can be of assistance in the SR&ED claim process and SR&ED reviews in Taxpayers’ Ombudsperson: What is it and When Can You Use It?
Following along with the success of our Q1 2021 blog posts, we continued to delve into topics of interest and demystify the SR&ED application process for prospective claimants.
- This spring 2021 we examined the often-overlooked sector of Agriculture. We analyzed how agricultural projects can qualify for SR&ED, and the finer details of claiming these projects on SR&ED tax forms in Little Known Sectors that Qualify for SR&ED Part One: Agriculture
Administrative, Policy, and Legislative
The second quarter of 2021 was quiet in regards to SR&ED news and information updates from CRA. We summarized the federal budget for 2021, and the key elements of the budget which aim to recover Canada’s economy after the impacts of COVID-19 in SR&ED in the Federal Budget: Innovation Support (2021).
On March 25, 2021, the 2021 SRED Stakeholder webcast occurred, and over 150 SR&ED stakeholders participated to discuss a variety of topics. We summarized this dynamic presentation in the article ‘Summary of 2021 SRED Stakeholder Webcast‘.
In April 2021 the CRA posted two updates on the continuing impacts of COVID-19 on the country and the functionality of the CRA and registry offices. On April 7, 2021, they posted “Notice to the Public and the Profession, April 7, 2021“, and on April 29, 2021, they posted “Notice to the Public and the Profession, April 29, 2021“. We summarized these posts on our site, Recent Updates from the Tax Court of Canada April 2021.
In terms of judicial proceedings, Q2 was quiet with only four SR&ED court rulings released or on the docket. Due to time constraints, these will be summarized next quarter.
Summary of SR&ED Updates
SR&ED program updates from April-June 2021 were busy as the country dealt with the pandemic and how to resume operations. As in the prior three months, SR&ED Education and Resources continued our educational mandate, writing six more informative blog posts. Check back for more updates as 2021 continues.