Please take three minutes to View the Video of CATA's Sr. VP, Tax, Finance & Advocacy, Russ Roberts, as he updates the community on key post federal Budget SR&ED issues. Dr. Roberts talks about refundability, program complexity, tax credit eligibility, education & awareness and best practice insight.
View the Video
Also refer to CATA's analysis of the 2012 Budget at this URL: http://cata.ca/Media_and_Events/Press_Releases/cata_pr04051201.html
The Budget was clearly a work-in-progress that did not address many of these issues the sector is facing. For example, the Budget did not address the unfavourable tax treatment of the non-refundable tax credits encountered by some multinational corporations and the need to have the credits booked “above the line” to make them more effective. In fact, the Budget substantially reduced core support by SR&ED for the ICT sector, raising considerable cost challenges for important R&D efforts being conducted by a number of ICT firms. We believe that less invasive changes could have made to achieve even better results
++ Call for Feedback and Advocacy Guidance:
Dr. Roberts moderates an SR&ED Tax&Finance Social media Group (800 members) that serves as a venue for the community to bring forward their experiences and seek suggestions and advice from others on practices that are more or less effective with the Canada Revenue Agency or CRA. On this Group he has started a Conversation on contingency fees, and benefits from community feedback and guidance in setting out advocacy positions on tax, finance and related innovation matters.
If you have not done so already, please View the Video and then join the SR&ED Group at this URL: http://www.linkedin.com/groups/SR-ED-Tax-Finance-Group-3246301/about
Help us shape CATAAlliance Tax & Finance Advocacy today by adding to the Conversation.