Developments: Increased need for contemporaneous documentation — SR&ED supporting documents

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Back in the spring of 2010 we stressed the importance of supporting documentation in corroborating SR&ED claims (May 18, 2010 Developments: Supporting Documentation – Guidance), noting that revised Form T661 required claimants to check individual boxes describing any specified documentation available to support their claim.

With those boxes checked, the Canada Revenue Agency (CRA) could review the claim, with the expectation that the noted supporting documentation would be available for review.

In other words, the CRA expects “contemporaneous documentation.”

In this edition, we revisit contemporaneous documentation, offering suggestions for ensuring that it becomes a natural part of how your company performs work eligible for SR&ED.