As Department of Finance Canada conducts an internal review of the SR&ED program, innovation advocates and business consultants say Canada’s largest funding program for incenting R&D by the private sector is “broken” and needs a major overhaul.
Organization: Canada Revenue Agency
Expert panel debates effectiveness of direct R&D funding vs. SRED tax credits
The number of direct government funding programs in Canada aimed at increasing private sector R&D and innovation has tripled during the last three years, despite a lack of scientific evidence showing such support is effective.
Tara Cosgrove
The Canada Revenue Agency has appointed Tara Cosgrove as DG responsible for the Scientific Research & Experimental Development (SR&ED) tax credit program. Cosgrove replaces acting DG Hélène Marquis who assumed the role when former DG Lucie Bergevin departed in 2016. Prior to her appointment, Cosgrove was corporate secretary of CRA’s strategy and integration branch.
Data show SR&ED appeals have exploded since 2009
Company objections to negative rulings on their R&D tax credit claims have exploded since 2009 to more than 600 annually, according to data released through an access-to-information request by Toronto-based Scitax. The Canada Revenue Agency data show that the number of Notices of Objection it received began their dramatic upward trajectory in 2010, following the…
SR&ED the focus of several inquiries, reports
All guns appears to be focused on the federal Scientific Research and Experimental Development (SR&ED) tax credit program. No fewer than three panels or oversight offices are working on or have completed assessments of the program, which costs the federal treasury between $3.5 billion and $4.5 billion annually in foregone revenue. In addition, the Canada…
CRA clarifies eligibility of outsourcing under SR&ED
The Canada Revenue Agency (CRA) has issued a clarification on the qualification of outsourcing claims under the scientific research and experimental development (SR&ED) tax credit program. When claimants outsource work to third parties that they wish to claim under SR&ED, they must choose between the traditional and proxy methods for calculating overhead. They must also…
SR&ED guidelines on labour expenses clarified
The Canada Revenue Agency has issued a paper clarifying its policy on labour expense allocations for scientific research and experimental development (SR&ED) claims. The new guidance makes the allocation approach official CRA policy, meaning that its auditors can no longer require firms to submit time sheets, a practice considered onerous and impractical. The guidelines were…
Applied PeR$pectives
Building with CCNB-INNOV… Relationships that go a Long Way! CCNB-INNOV, the applied research and development arm of CCNB has adapted its range of services to better meet the unique needs of the regional shipbuilding industry.
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December 12, 2018: Requiem for a National Network Program
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