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Changes to the SR&ED program for 2014

By Pierre J. Pinet

The beginning of 2014 brought with it a number of changes to the Scientific Research and Experimental Development (SR&ED) program. Some of these resulted from announcements made in the 2012 Federal Budget. Others are reflected in the modified T661 form which was introduced for use as of January 1st. In addition, the CRA has launched new and improved programs aimed at assisting companies in preparing their SR&ED claims, especially for those who have not participated in the program for 3 years or more (including companies who have never before claimed). In order to maximize your success in claiming tax credits under the program, it is important to be aware of these changes.

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