News release

Minister Cauchon salutes industry's contribution to SR&ED tax incentive program improvements

Ottawa, May 30, 2001... The Honourable Martin Cauchon, Minister of National Revenue and Secretary of State responsible for the Economic Development Agency of Canada for the regions of Quebec, today congratulated industry for its contribution to significant improvements that have been made to the administration of the Scientific Research and Experimental Development (SR&ED) Program.

This program, administered by the Canada Customs and Revenue Agency (CCRA), provides tax incentives to Canadian businesses that conduct SR&ED work in Canada.

Minister Cauchon, speaking in Ottawa at an SR&ED conference, noted that the meeting marked the successful conclusion of the SR&ED Action Plan that was launched in 1998. The Action Plan set out priorities and concrete actions to help the CCRA improve the administration and delivery of the SR&ED Program. The Minister congratulated industry members and CCRA officials for creating the productive partnership that enabled the CCRA to address all points set out in the Action Plan.

"We could not have achieved the results we have without the close relationship that has developed between industry and the CCRA," said the Minister. "Collaboration and partnership are the keys to making sure that the SR&ED Program continues to be delivered in an effective, responsive, and fiscally responsible manner."

The Action Plan, based on extensive consultation and feedback from the private sector, included specific actions to make the SR&ED Program more client-focused with improved and ongoing communications between government and industry.

For more information on SR&ED, visit the CCRA's Web site at www.ccra.gc.ca/sred, or contact your local tax services office. You can also call 1-800-959-5525 toll free.

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