The Canadian government has revamped the Scientific Research and Economic Development (SR&ED) program, allocating $26 billion in tax incentives to bolster R&D. Publicly-traded firms can now claim 35% of eligible expenditures, up from 15%, while refundable credit limits rise from $3 million to $4.5 million.
The changes address long-standing complaints about accessibility and paperwork, but critics highlight increased benefits for large foreign-owned subsidiaries. Ottawa will add $1.9 billion to SR&ED funding over six years, with $4 billion distributed annually. These reforms aim to drive innovation and make the program more valuable for both private and public companies.
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