Monthly Archives

September 2012

TSGI Weighs In on the SR&ED Advisory Services and Fees Conversation (posted September 21, 2012)

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In an effort to encourage industry and SR&ED professionals to contribute to the debate on SR&ED Advisory Services and related fees, the Department of Finance began a period of public consultation starting Q3 2012. TSGI is happy to contribute our considered opinion and viewpoint on the matter – our letter to the Minister and Department of Finance is linked to below.

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Note: TSGI does not maintain this news article after its initial posting. Readers are further advised that the information presented here may not be sufficient for unassisted tax planning. Please contact a TSGI representative if you require clarification or other assistance regarding this topic.

Deadline for Input Regarding SR&ED Advisory Services and Fees Is October 1, 2012 (posted September 6, 2012)

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As part of the Economic Action Plan 2012, the Federal government has committed to undertake consultations to better understand how and why SR&ED claimants hire external advisors. The consultations are specifically intended to assist the Department of Finance in understanding the following questions:

  • why firms hire third-party tax preparers on a contingency-fee basis;
  • why these tax preparers charge contingency fees;
  • the prevalence of this practice;
  • the amounts charged; and
  • the impacts of this practice on the effectiveness of the SR&ED tax incentive program.

The deadline for submitting comments to the Department of Finance on these topics is October 1, 2012. All stakeholders in the SR&ED program should speak out now:

Visit this link to have your voice heard about these issues and how any proposed changes will impact you.

Further information can be obtained at the following websites: Announcement of the consultation process and Background information and guidance for submissions
 
 
Note: TSGI does not maintain this news article after its initial posting. Readers are further advised that the information presented here may not be sufficient for unassisted tax planning. Please contact a TSGI representative if you require clarification or other assistance regarding this topic.