Jim Flaherty, the Minister of Finance, and Gail Shea, the Minister of National Revenue, today opened consultations regarding the issue of contingency fees on the SR&ED program.
The consultations seek input from stakeholders to better understand:
• Why firms hire third-party tax preparers on a contingency-fee basis;
• Why these tax preparers charge contingency fees;
• The prevalence of this practice;
• The amounts charged; and
• The impacts of this practice on the effectiveness of the SR&ED tax incentive program.
Written submissions will be accepted in either official language and should be mailed to the address below by October 1, 2012:
Department of Finance
140 O’Connor Street
Questions on the process may be addressed to: