Extended SR&ED Reporting Deadlines
The CRA has received a ministerial order under the Time Limits and Other Periods Act (COVID-19) to allow for the extension of Scientific Research and Experimental Development (SR&ED) claim deadlines for no more than six months starting from March 13, 2020, and not past December 31, 2020. The extension provides more time for claimants who […]
CRA Begins Launching SR&ED Pre-Claim Review Pilot
In August 2016, the Canada Revenue Agency (CRA) began to launch the Pre-Claim Review pilot program in order to review and determine whether R&D projects that are in progress qualify for the Scientific Research and Experimental Development (SR&ED) tax credit program. This follows the cancellation of the similar Pre-Claim Project Review service at the end […]
Resolving claimants’ SR&ED concerns: Changes to CRA Guidelines
On May 30, 2016, the Canada Revenue Agency (CRA) made the following changes to the guidelines for resolving claimants’ SR&ED concerns in order to make the administrative review process faster and more consistent: Form RC532: Request for Administrative Review has been introduced to ensure that claimants provide the necessary information to the CRA to evaluate […]
Update to SR&ED Program Service Standards
The Canada Revenue Agency (CRA) has recently released an update of service standards for processing SR&ED claims. Based on average processing times and success rates in 2015, the following are CRA’s service standards for processing SR&ED claims as of December 31, 2015 (following the receipt of a complete claim): Refundable claims – 120 calendar days […]
Summary of Provincial and Territorial R&D Tax Credits
The Canada Revenue Agency has recently released the most current summary of provincial and territorial R&D tax credits. Recent program developments by region include: Manitoba As of January 1, 2014, the definition of ‘eligible expenditures’ has been amended in line with the federal reduction in the prescribed proxy amount to 55%, and the reduction to […]
New SR&ED Videos
Canada Revenue Agency (CRA) has released a series of new educational videos about the SR&ED program. The videos cover topics including: who can claim SR&ED tax incentives, what work qualifies for SR&ED, how to calculate SR&ED expenditures and investment tax credits, and the SR&ED application process. The Canadian Scientific Research and Experimental Development (SR&ED) tax […]
Changes to SR&ED T661 Form Effective January 1, 2014
The Canada Revenue Agency (CRA) has revised the SR&ED T661(13) form to accommodate the legislative changes coming into effect on January 1, 2014, and to ensure consistency with the consolidated SR&ED policy documents released in December 2012. The previous T661(12) version of the form can be submitted until December 31, 2013, but starting on January 01, 2014, […]
Changes to the SR&ED Program
The Scientific Research and Experimental Development (SR&ED) tax incentive program provided $3.6 billion in tax assistance for research and development in 2011. In the past year, the SR&ED program was reviewed by an Expert Panel which presented a series of recommendations to the federal government. As a response to the recommendations of the Expert Panel, the […]
Email Fraud Alert from the CRA
The Canadian Revenue Agency (CRA) posted an Email Fraud Alert yesterday, cautioning taxpayers to be aware of a phishing scam posing as CRA communication. Phishing is an attempt to acquire secure, personal information from individuals or businesses, such as user names or credit card information, by posing as trustworthy entity in electronic or other communication. […]