On October 30, 2020 the CRA released three updated forms for taxpayers filing a SR&ED claim. The adjusted forms can be found by clicking on the links below.
- Form T661, Scientific Research and Experimental Development (SR&ED) Expenditures Claim
- Form T1145, Agreement to Allocate Assistance for SR&ED Between Persons Not Dealing at Arm’s Length
- Form T1146, Agreement to Transfer Qualified Expenditures Incurred in Respect of SR&ED Contracts Between Persons Not Dealing at Arm’s Length
The main reason for the update to the forms was to remove references to capital expenditures that no longer qualify for SR&ED expenditure or investment tax credit purposes.
In addition to this, a box has been added in Part 6 of the T661 requiring claimants using the traditional method of overhead allocation to allocate the overhead expenditures to each of the projects claimed. This new overhead information is required for claimants filing an SR&ED claim for tax years ending after 2020 and is optional for taxation years ending prior to 2021.