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Calgary Chamber of Commerce

Submission — Calgary Chamber of Commerce

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Submitter(s): Karuvelil, Priyanka

Summary: Though the Government of Canada recognizes the importance of R&D as the key driver in increasing productivity, it needs to implement measures to make the pursuit of R&D excellence in Canada easy. One of the key federal policy levers for incentivizing R&D investment to catalyze productivity growth and capital market democratization is the Scientific Research and Experimental Development (SR&ED) Tax Credit Program. Currently, the effectiveness of the SR&ED tax credit is not at its full potential and requires some modifications. R&D in Canada can have more of an impact through implementing the following changes: Amend the Scientific Research and Experimental Development Tax Credit Program to provide better access to non-CCPCs; Work with the provinces to establish a coordinated and equitable provincial R&D tax policy framework; and Reduce the regulatory burden on industry in their efforts to partner with research institutions.

Full submission: PDF Version