Canada | Amendments to treatment of concessional loans impact scientific research and experimental development claims

26 July 2024|Tax Alerts, Legislation & Policy, National/Federal Taxation|Canada

Recent legislative amendments to the Income Tax Act have a direct impact on the scientific research and experimental development (SR&ED) tax incentive program.
These amendments provide clarity on the treatment of concessional loans with respect to the legislation governing government assistance for SR&ED purposes, which has implications for the computation of SR&ED investment tax credits.
Because the amendments are effective retroactive to 1 January 2020 and apply to loans made after 2…

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