Plastics-specific guidelines available for SR&ED tax credits
Canadian PlasticsCanadian Plastics
A new document developed by Canada Customs and Revenue Agency, in consultation with the industry, is now available...
A new document developed by Canada Customs and Revenue Agency, in consultation with the industry, is now available to help plastics sector claimants and CCRA reviewers with the preparation and processing of claims under the Scientific Research and Experimental Development (SR&ED) program.
The SR&ED program receives about 11,000 tax credit claims per year, totaling about $1.5 billion.
The Plastics Materials, Processing, Equipment and Tool Making Guidance Document helps claimants to determine eligibility criteria, and provides some industry-specific examples. It is available online at www.plastics.ca/sred or www.ccra-adrc.gc.ca/taxcredit/sred/sector-e.html.
There is also a seminar scheduled for April 24 in Toronto on the SR&ED program. Contact the Canadian Plastics Industry Association for details, 905-678-7748.