Opposition to Bill C-45 good news for SR&ED Tax Program.
It’s no surprise that opposition has occurred in regard to the second Budget Implementation Act – otherwise known as Bill C-45. What is surprising is that the Liberals have submitted a staggering 3,000 amendments to the bill. This will likely cause the house to have to go through all amendments clause by clause. A definite headache for those in support of the bill.
Although environmental issues are taking centre stage, there is also a significant change proposed that needs to be discussed in regards to the SR&ED Tax Credit Program. The Liberals have recommended extending the phase out period in regards to the proposed changes for the Scientific Research and Experimental Development tax credit program.
Some, including Finance Minister Jim Flaherty, say these proposals set forth are purely a publicity stunt. What we say is that whether or not it’s a stunt, we like to see opposition to a bill that may change the SR&ED program for the worse, and opposition such as this shows strong support for a program that helps so many Canadian businesses in the innovation field.
Read about this and other amendments at canada.com