Error calculating provincial ITCs for SR&ED claims

T2
1

Hi Folks,

I noticed an error on the calculation of the provincial Investment Tax Credits.

The software is taking the Total allowable SR&ED expenditures amount from line 400 (SEction B) of the T661 form (Sch 32). This is the wrong amount as it ignores any reductions for gov’t assistance/contract pmts and the 20% reduction for contractor expenses.

I’m going over to the provincial form and overriding the expense figure.

Also, if the company is multi-jurisdictional (has a PE in multiple provinces, I think the software is duplicating the expenses on all related provincial ITC forms (atleast is did for a com[pany with branches in NS and AB).

Cheers,
Paul

2

@pfarmer
Would you be able to send us the file with a description of the issues and expected values so we can investigate? Thank you and have a great day.

Steven

3

Hi Steven,

I will try to put something together as an example.
I am not able to provide screenshots of the actual client returns.

Cheers,
Paul