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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.
This event has multiple dates and locations. See event details for more information.
This webinar discusses current developments that will affect your firm, including CPA Canada's new tools to assist in the implementation of new auditor reporting, accounting and tax updates, and a session on artificial intelligence.
Are you a practitioner who performs agreed-upon procedures engagements or a user of agreed-upon procedures reports? Attend this webinar to learn about the AASB’s proposed standard.
February 27, 2019
Transformative leaders understand the importance of emerging trends and strategic planning. Invest in skills that will help you navigate the risks and opportunities of disruption.