Good news for corporations and individuals across Canada with SR & ED credits
The federal government has announced plans to extend the carry forward period for unused federal investment tax credits earned before 2006 to 20 years from the current 10. This measure, which would apply to credits earned in taxation years between 1998 and 2005, is good news for corporations and individuals across Canada with SR&ED credits that were set to expire in the next few years. Credits earned after 2005 are already eligible for a 20 year carry forward.
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