A Practical Guide to SR&ED in 2011 - CCH Canadian
A Practical Guide to SR&ED in 2011 - CCH Canadian
A Practical Guide to SR&ED in 2011 - CCH Canadian
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SR&<strong>ED</strong> Qualified Expenditures• Qualified Expenditures <strong>in</strong>clude overheads or Prescribed ProxyAmount• Prescribed Proxy Amount is elected <strong>in</strong> lieu of actual Overheads• Must elect each year• Election must be filed with first fil<strong>in</strong>g of the T661, before deadl<strong>in</strong>e andcannot be amended later• Prescribed proxy amount is a notional amount replac<strong>in</strong>g overheadsand other expenditures• For calculation of ITC only; not treated as an SR&<strong>ED</strong> expenditure• Actual overheads are deducted as bus<strong>in</strong>ess expense• If traditional amount is elected, <strong>in</strong>cremental and directly attributableoverheads may be claimed
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