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ARTICLE · 08 APRIL 2013

Budget 2013: Enhanced SR&ED Enforcement Measures Announced

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The Government also proposed to undertake a study of the contingency fees charged by third party consultants to prepare SR&ED claims on behalf of taxpayers.

CanadaTax
Michael Friedman
Michael Friedman
Peter Botz
Peter Botz
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Over the past several years, the Department of Finance ("Finance") and the Canada Revenue Agency (the "CRA") have conducted a detailed review of the structure and administration of the federal Scientific Research and Experimental Development ("SR&ED") program (the "SR&ED Program"). The SR&ED Program is designed to provide meaningful tax incentives for Canadian businesses to undertake meaningful scientific research and development activities in Canada.

In Budget 2012, the Government proposed substantial legislative amendments to reduce certain of the tax advantages historically associated with the SR&ED Program, including the rate of certain investment tax credits offered under the SR&ED Program.

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