Saskatchewan eliminates refundability, cuts rates of SR&ED credits

In its budget released on March 18th, the Saskatchewan government has decided to cut tax credits for scientific research and experimental development (SR&ED). The rate companies enjoyed will be reduced from 15% to 10%. As well, the province is eliminating the refundability of the incentive program, meaning companies will only be able to use the credits to pay their income taxes. This will be a major blow to startups and small companies who relied on the program to generate cashflow.

These changes are effective starting April 1st 2015.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

HTML tags are not allowed.

Testimonials

Serge Bonenfant - Qualicode 198x200 During the preparatory meeting and the audit thereafter, we have been privileged to observe and appreciate the professionalism of the Emergex team, both by the presentation they had prepared and by the explanations they put forward. The quality of a consultant in the field of R&D tax credits cannot be determined at the time the initial claim is made, but rather, through the efforts they undertake to deal with an inspection. Big thanks for your excellent work!