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Review this submission paper to learn about Chartered Professional Accountants of Canada (CPA Canada)’s position on the issue of contingency fees for third-party preparers of claims for the Scientific Research and Experimental Development (SR&ED) Tax Incentive Program.
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Many organizations hire accounting firms to help them navigate the complex criteria of the SR&ED program and prepare their claims. These organizations then pay the accounting firms a contingency fee, calculated as a percentage of the tax credit they receive. Concerns have been raised, however, that an excessive amount of government stimulus spending is being diverted to third-party consultants.
CPA Canada has responded with this submission paper to the federal Department of Finance that explains how and why contingency-based fees encourage more taxpayers to participate in the program and ultimately increase their SR&ED investments. As this document makes clear, these arrangements enhance the overall tax system’s fairness, effectiveness and efficiency, without significantly diverting an undue proportion of the government’s innovation funding.
May 28, 2018
The rapidly evolving pace of technology is changing how we do business. Come together with technology investment decision-makers to develop strategic solutions and explore what the future holds.
October 1, 2018
The ONE is Canada’s must-attend, multi-track CPA event of the year. Stay at the top of your game with future-focused sessions, thought-provoking keynotes, prime networking opportunities and a first-class exhibition floor.
This event has multiple dates and locations. See event details for more information.
Attend the Public Sector Accounting Discussion Group meeting in-person or virtually via livestream. Virtual observers will be able to see and hear the discussion in real time along with those attending in person.