In October of 2012, the Canada Revenue Agency (CRA) will be releasing a new Form T661(12), Scientific Research and Experimental Development (SR&ED) Expenditures Claim, to accommodate the legislative changes proposed in the March 2012 federal budget. These changes will begin taking effect commencing January 1, 2013.
The new Form T661(12), revision code 1201, will be accepted as of its publication date in October of 2012. However, the old T661(11) version of the form can be submitted until December 31, 2012. As of January 1, 2013, only the T661(12) version will be accepted for all tax years.
Click here to read our 2012 budget newsletter or here to reach the relevant CRA page.