As discussed in our blog post from December 2012, CRA Announces the Release of the SR&ED Policy Review Project, the CRA will be making revisions to the current T661 form.
Revised form T661 (13), also known as revision code 1301, will include the merging of sections B and C in Part 2. This change will require that all projects, whether experimental development or basic/applied research will be required to respond to all 3 criteria. These are:
The second revision is to the order of questions in Section B. These questions will be rearranged for consistency with the Eligibility of Work for SR&ED Investment Tax Credits Policy document.
The revised T661 (13) form will be effective as of the publication date, set for October, 2013. The current version will be acceptable until December 31, 2013 to give suitable time for implementation. To learn more about the T661 SR&ED tax form changes, visit the CRA Government website or contact a BeneFACT Consultant today.