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What this means for Canadian manufacturers
Major SR&ED Policy Changes Pending
The federal government has released draft legislation that could bring the most significant updates to the SR&ED program in over a decade. These proposed changes could reshape how manufacturers access and maximize tax credits. If enacted, the changes could apply to taxation years after December 16, 2024. This means it’s important to act now; waiting until 2026 to review your claims may miss opportunities to capture historic expenditures and strengthen your funding position.
Join NorthBridge for a clear, practical breakdown of the proposed changes, what they may mean for your organization, and how to prepare while the legislation is still under review.
Key changes include:
- Restoring eligibility of capital expenditures for deduction against income and the ITC
- Extending eligibility for the enhanced 35% refundable credit to eligible Canadian public corporations
- Increasing the expenditure limit on which the 35% enhanced rate can be earned from $3M to $4M
- Raising the taxable capital phase-out threshold from $10M and $50M to $15M and $75M for determining the expenditure limit
