The federal government is implementing significant changes to the Scientific Research and Experimental Development (SR&ED) program for taxation years that begin on or after December 16, 2024.
The SR&ED program already supports over 22,000 Canadian businesses, and with these changes, it hopes to support more small- and medium-sized Canadian businesses. The government is proposing a $1.9 billion investment in the program over the next six years, as well as the following changes:
Further details can be found in the 2024 Fall Economic Statement.
Questions about SR&ED? Reach out to our team at richard@humi.ca for help.
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