SR&ED the focus of several inquiries, reports

All guns appears to be focused on the federal Scientific Research and Experimental Development (SR&ED) tax credit program. No fewer than three panels or oversight offices are working on or have completed assessments of the program, which costs the federal treasury between $3.5 billion and $4.5 billion annually in foregone revenue. In addition, the Canada Revenue Agency, which administers SR&ED, is meeting with stakeholders across Canada and is preparing 21 new publications on the financial, scientific and financial/scientific aspects of the program. The Expert Review Panel on Research and Development is examining SR&ED as part of its mandate to recommend improvements to the allocation of federal funding in support of business R&D. The Coalition for Action on Innovation in Canada — has already completed its report calling for fully refundable tax credits for all users as well as changes to its "often adversarial and unpredictable" administration (R$, October 14/10). Finally, the Taxpayers' Ombudsman has issued a report on the appeals process for SR&ED claims and is completing a review of systemic issues related to the program....