Extension of time to file older version T661 form
Today the CRA announced the deadline for accepting the old Form T661(03) has been extended until September 30, 2005. Claims filed after that date must be filed on the new Form T661(04). CRA has published on its web site a summary of changes to the new form.
In this summary the CRA states that if your software package uses version (04) of Form T661 your RSI 32 will generate all the prescribed information contained on form T661. There is no longer a requirement to file the T661 form with a computer generated tax return if project descriptions and all the attachments and schedules required by the CRA are included with the filing and the taxpayer keeps a certified copy of form T661 in their files that is signed by an authorized person. That person has to indicate the choice of method used to calculate the SR&ED expenditures and related ITCs for the year.
