Bifalgorithm post · Fuscalite · CRA updates its SR&ED ITC policy

ITC Changes

ITC Changes (Fuscalite · CRA updates its SR&ED ITC policy) — "CRA has revised its policy on the SR&ED investment tax credit (ITC) to reflect recent legislative…

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  • CRA revised its policy on the SR&ED investment tax credit (ITC).
  • The policy revision reflects recent legislative changes.
  • Capital expenditures are reinstated as allowable and qualified SR&ED expenditures.
  • The 35% ITC rate applies to qualified SR&ED expenditures by eligible Canadian public corporations (ECPCs).
  • Eligible Canadian public corporations (ECPCs) are included in the 35% ITC rate extension.
  • ECPCs must meet the specified numerical tests.
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ITC Changes

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Fuscalite

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"CRA has revised its policy on the SR&ED investment tax credit (ITC) to reflect recent legislative changes, including:\n\nthe reinstatement of capital expenditures as both allowable and qualified SR&ED expenditures;\n\nthe extension of the 35% ITC rate on qualified SR&ED expenditures to those by eligible Canadian public corporations (ECPCs), provided they meet the specified numerical tests;"

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