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On October 31, 2013, the CRA announced changes to the Scientific Research and Experimental Development (SR&ED) claim form. The modified T661 form accommodates legislative changes announced in the 2012 and 2013 budgets and the consolidated policy documents released in December 2012.
The revised form goes into effect as of January 1, 2014.
There are three major changes that are reflected in this form:
Additional details about each of these changes can be found on the CRA web site.
The fee disclosure requirement is part of the CRA’s wider effort at determining the efficiency and the degree of beneficial impact that this program has on innovation for Canadian businesses through technological advancements.
The changes to the form stemming from the consolidated policy documents reflect the renewed focus of the CRA toward the application of the rules that govern the program. While the program rules have not changed, the application of the guidelines in their consolidated policy will make non-compliant claims more easily detectable. Claimants should consult with their MNP SR&ED practitioners to gain a better understanding of how to respond to the new consolidated policy guidelines.
To discuss these changes further, please contact Ryan Mackiewich, SR&ED Practice leader at MNP by phone at 778.475.5678 or by email: [email protected].
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