SR&ED Program Needs Canadian Business Input

    TORONTO, Oct. 12 /CNW/ - Numerous industry reports and studies have noted
that Canada faces new business challenges in the areas of innovation and
global competitiveness. Scientific Research and Experimental Development
(SR&ED) Tax Incentives in the private sector, represents an important way for
the country to remain progressive. The program keeps Canada competitive in the
global marketplace, as technology, science, innovation, and entrepreneurship
are vital to the continuing growth of the economy.
    The timing of the announcement of the Federal Government's consultation
on the SR&ED program comes at a key moment in the business cycle. The Canadian
dollar is very strong and there is an increased trend toward offshore
outsourcing business and technology functions - the focus now is how to
continue to have a competitive and prosperous economy. There is a need for a
broad participation from Canadian business.
    The SR&ED tax incentive program is the single largest federal program
supporting business R&D in Canada, providing over 3 billion dollars in tax
assistance to Canadian businesses in 2006. The recent announcement by the
Department of Finance for business consultation on the SR&ED tax allows for
more industry input on how to continue keeping this program innovative and our
economy prosperous.
    Speak with Winnifred Brown at Ernst & Young about the SR&ED program and
how businesses can get involved with the consultation. As well, she can
discuss the importance of the SR&ED program to the future of the Canadian

    About Ernst & Young

    Ernst & Young, a global leader in professional services, is committed to
restoring the public's trust in professional services firms and in the quality
of financial reporting. Its 114,000 people in 140 countries pursue the highest
levels of integrity, quality and professionalism in providing a range of
sophisticated services centred on our core competencies of auditing,
accounting, tax and transactions. Further information about Ernst & Young and
its approach to a variety of business issues can be found at Ernst & Young refers to the global organization of member
firms of Ernst & Young Global Limited, each of which is a separate legal
entity. Ernst & Young Global Limited does not provide services to clients.

For further information:

For further information: Amanda Olliver at or
(514) 874-4308

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