July 17, 2007

SRED Legislative Alert – Important Updates


CATAAlliance MEMO

Date: July 17, 2007

Re: SRED Legislative Alert – Important Updates
http://www.cata.ca/Media_and_Events/Press_Releases/cata_pr07160701.html

Attn: Directors of Finance, CFO’s and Senior Management responsible for your SR&ED tax credits
___________________________________________________________

A new update on CATA’s Activities to promote improvements in the Scientific Research and Experimental Development Tax Credit program has just been posted on the CATA website at:

http://www.cata.ca/Media_and_Events/Press_Releases/cata_pr07160701.html

This update not only summarizes discussions that we are having with the Department of Finance and CRA about the program, but also, summarizes early feed back that we are receiving from the community through our ongoing web consultations started in May.

The first phase focuses on understudying how well respondents feel that the review (audit) process is working. The second phase of the web consultations was just posted for input. This phase focuses on how well the redress processes are working when claimants do not accept the way a review is conducted or the conclusions of a review.

Also note that the SR&ED Centre in the CATA web site has just been updated to include a short update on Ontario’s Interactive Digital media Tax Credits. If you are developing digital media products in Ontario and do not know about the program, this is must read.

You can access the SR&ED Centre at:

http://www.cata.ca/Business_Services/SRED_Tax_Centre/