It’s Official: The “Goodies” are Here. Budget 2025 is Now Law.
đź’¸Capital Expenses are BACK: Restored eligibility for capital expenditures. You can once again claim SR&ED credits on the machinery and equipment essential to your R&D.
🚀 SR&ED Boost: The 35% refundable credit limit is officially $6M.
đź«° The enhanced 35% refundable rate has been extended to eligible Canadian Public Corporations (ECPCs)
⚡ Clean Energy: Expanded tax credits for clean tech and critical minerals are now live.
Budget 2025: SR&ED Gets a Major Upgrade & Key Business Tax Changes
A Clear Signal for Innovation and Investment Budget 2025, titled “Canada Strong,” wasn’t just about fiscal anchors and public spending; it delivered a clear, tangible message to Canadian businesses: Invest in Canada, and we will maximize your savings. The federal government has launched a concerted, strategic effort to boost domestic productivity and global competitiveness using […]
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. Â 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) Â 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&EDÂ 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 […]