The CRA has extended SR&ED claiming deadlines for 8 of the 12 months of fiscal year ends for firms’ scientific research and experimental development (SR&ED) claims. This deadline extension helps companies impacted by COVID-19 by giving them more time to file claims with a deadline that falls during the pandemic. In some cases, this extension will give companies the ability to file SRED claims for periods that had already expired. This is an unprecedented claimant-friendly move by the CRA. This extension falls under a new bill called Time Limits and Other Periods Act (COVID-19).
The first extension affects claimants with September 30 to December 31 year ends who did not get their 2018 SRED claims in on time. Under this extension, these companies are now able to file their previously-expired FY18 claim until the following dates:
The SRED extension also extends the claiming deadline for early 2019 fiscal year ends. Companies with January to May fiscal year ends get the following filing extension for their 2019 SRED claims:
Call G6 Consulting for assistance so that you never miss another SRED deadline, or cheque, again. We make sure your cheque is as large as possible by identifying all your work that qualifies as SR&ED and all the related valid SR&ED claimable expenses. We’ll work with you to put in place easy systems so that your SR&ED evidence gathering, and claim preparation and submission become a routine part of your normal workflows.