The Scientific Research and Experimental Development (SR&ED) Program offers tax incentives to Canadian businesses that conduct research and development. The standard Federal deadline for this program is 18 months following the corporate tax year-end. Due to COVID-19 corporate tax extensions for year-ends from November 30, 2019, to February 29, 2020, extending to September 1, 2020, the standard 18-month SR&ED deadline has also been extended. While most tax software continues to report the pre-COVID-19 deadlines, the CRA have published extended filing deadlines for most claimants, as a part of their COVID-19 measures. For corporations filing claims for December 31, 2019, the SR&ED filing deadline has been extended from June 30, 2021, to September 1, 2021.
Three important points to note:
If you have any questions about the SR&ED extension, or to inquire if your business may qualify for SR&ED tax incentives, please reach out to your Bateman MacKay Business Advisor.
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