The new Update is entitled, “CATA’s Call for the Creation of an Independent Administrator to Deliver Tax Incentives in support of Innovation, and for the Overhaul of Canada’s System of Tax Incentives for Innovation.”
It includes input and feedback received in response to the proposals set out in CATA’s draft action plan, September 27, 2016, on the need to modify and augment the current tax based incentives for innovation, including SR&ED: CATA Call for Action: Major Improvements in Canada’s System of Federal Support for Business Innovation.
Our mandate for this work has focused primarily on improving the Government’s impact on the tax based incentives available to the Information and Communications Technologies (ICT) sector. However, with few exceptions, we believe that the real opportunity is in the extension of many of these approaches to all sectors contributing to Canada’s innovative economy.
We strongly encourage the Government to strengthen Canada’s tax based incentives for innovation. The intent should be to maximize the return on these investments (ROI) to the Canadian economy. Focusing simply on direct funding and not dealing with the weaknesses in Canada’s tax based incentives is not enough.
Other countries are doing better with their tax based incentives and we should be doing the same. Our competitors recognize the critical role of focusing on developing results-oriented, effective tax incentives in the support of innovation. If the Government does not seize this opportunity, Canada will continue to earn a low ROI on these major investments in innovation…
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The Canadian Advanced Technology Alliance (CATAAlliance) is Canada’s One Voice for Innovation Lobby Group, crowdsourcing ideas and guidance from thousands of opt in members in moderated social networks in Canada and key global markets. (No Tech Firm Left Behind) Contact: CATA CEO, John Reid at firstname.lastname@example.org