Ontario’s 2020 Budget | How It Affects Research & Development (SR&ED)

The announcement of the Ontario 2020 budget comes with mixed reviews this year. As many new grants have been established or extended, not too many changes have occurred with the scientific research and experimental development tax credit (SR&ED).

The SR&ED filing extensions remain unchanged from previous extensions this year, as companies with a November 2018 fiscal year-end can still file their claim by November 30th, 2020. The same goes for a December 2018 fiscal year-end, as the deadline is December 31st, 2020. With companies having a fiscal year from January 1st, 2019 to June 29th, 2019, your SR&ED claim is also maintained and extended to December 31st, 2020.

For a complete breakdown of the Ontario 2020 budget, please click on the link Ontario 2020 Budget