... tax back for your research

SR&ED News

Here's what's happening in the world of SR&ED tax credits:

Improvements to SR&ED Program Announced

Minister Blackburn recently announced improvements to the SR&ED tax credit program. These include:

  • Reporting quarterly on how long it takes to review an SR&ED claim;
  • Spending more time explaining SR&ED program requirements, process and decisions to claimants;
  • Informing claimants if, in the course of a review, the CRA reviewers discover that the claimant has not claimed work that appears to be eligible for credits, so that the claimant can re-submit (subject to submission deadlines).
  • Working to improve consistency in decisions.

More details are available from the Government of Canada News site.

Posted: January 15th, 2010

New SR&ED Tax Court Case Judgment

A new SR&ED appeal judgment has been posted on the Tax Court of Canada website.

The appeal is from a taxpayer who claimed he submitted a complete SR&ED claim before the final deadline. The CRA claimed the technical report was not included in the original claim, and was submitted 12 days after the final deadline.

Based on the evidence presented, the court concluded “on a balance of probabilities that the technical report was not filed by the appellant or its representative until after (…) the deadline for filing a claim for the 2005 taxation year.”

The full judgment is available from the Tax Court of Canada website.

The main lesson to be taken from this court case is that if you leave things to the last minute, you run a risk of your whole claim being denied due to a missing or misplaced piece of information. We highly recommend filing at least 3 months prior to the deadline so that the CRA has time to inform you if any information is missing.

Posted: November 18th, 2009

MEUK SR&ED Crash Course – 17 September 2009

MEUK will be holding their next SR&ED Seminar on Thursday, 17 September 2009 in Burlington, Ontario.  The schedule is:

9:00AM – 12:00 noon: SR&ED Tax Credit – Crash Course

12:15 – 1:00PM: R&D Base Walk-through over Lunch

1:00 – 2:00PM: Patent & IP protection – discussion

2:00 – 3:30PM: SR&ED eligibility within software development

4:30 – 6:00PM: SR&ED Practitioner workshop

More information and registration forms are available from the MEUK website.

Posted: September 9th, 2009

New MEUK Newsletter Available

MEUK has just published their latest newsletter. It includes:

  • Questions and Answers on the new SR&ED claim form
  • An overview of the calculation of Ontario’s new ORDTC
  • A discussion of the timing of tax on the SR&ED proxy amount
Posted: September 8th, 2009

RSS Feed RSS Feed