3 Updated SR&ED Forms Announced By The Government of Canada

The Government of Canada (CRA) has announced three updated SR&ED forms. The forms updated are the T661, T1145, and the T1146. Below is a breakdown of the changes made by CRA.

T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim
As of January 1st, 2020, this new form version 20 must replace the old version 15. The changes made to the form are CRA adding box 758 in part 6 where the project cost will include overhead and other expenditures for each project. To download the new form, please click on this link New T661 Version 20 Form

T1145 Agreement to Allocate Assistance for SR&ED Between Persons Not Dealing at Arm’s Length
The change to the T1145 is CRA removing the line related to expenditures as the SR&ED credit can no longer earn on expenditures on capital. To download the new form, please click on the link New T1145 Form

T1146 Agreement to Transfer Qualified Expenditures Incurred in Respect of SR&ED Contracts Between Persons Not Dealing at Arm’s Length
The change to the T1146 is identical to the T1145 form. CRA is removing the line related to expenditures as the SR&ED credit can no longer earn on expenditures on capital. To download the new form, please click on the link New T1146 Form

For more information on CRA changes to the SR&ED Tax Credit, please feel free to contact Braithwaite Canada today.

Source: Government of Canada