SRED program rife with problems

The Globe and Mail is reporting that dubious claims and a burgeoning industry of consultants have made the Scientific Research and Experimental Development (SRED) tax credit a farce.

The story contends that, based on the $4.5-billion value last year of the SRED plan and consulting fees that climb as high as 30 per cent, $1.3-billion of taxpayers’ money may be going to consultants rather than R&D.

Read: Dubious claims diminish R&D tax credit on the Globe and Mail site.