By Greg Markey & Peter Kovessy
Companies engaged in research and development and operating at a loss could see their financial situation worsen under recently proposed changes to a “flagship” government assistance scheme that are expected to appear in the upcoming federal budget.
The Scientific Research and Experimental Development program, which has existed in one form or another since the 1960s, is worth approximately $3.5 billion in tax credits annually. Commonly known as SR&ED, the program was put under the microscope by OpenText Corp. chairman Tom Jenkins, who prepared a detailed review of federal support for research and development.
Read more: Labouring over R&D
Feature photo by Svilen.milev (Own work) [CC-BY-SA-3.0 (www.creativecommons.org/licenses/by-sa/3.0) or GFDL (www.gnu.org/copyleft/fdl.html)], via Wikimedia Commons