Developments: Scientific Research and Experimental Development (SR&ED) Program Update

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This edition of Developments discusses federal government initiatives to make Canada’s Scientific Research and Experimental Development (SR&ED) program more effective. The program provided more than $3 billion in investment tax credits (ITCs) to over 19,000 claimants in 2009 and is the single largest federal program supporting industrial R&D in Canada.

The federal budget, released on March 4, 2010, takes steps to improve the government’s support of innovation and to ensure that investments are effective and yield the best possible results for Canadians. Federal support for R&D is estimated to be over $7 billion for the 2009 fiscal year. More than $4 billion was spent on funding post-secondary researchers, the private sector, not-for-profit entities and other R&D performers. The balance of the assistance (i.e., over $3 billion) was provided to SR&ED performers as tax assistance through the SR&ED program, which is administered by the Canada Revenue Agency.

Read the Developments PDF to learn more.