The Chemistry Industry 2020 Federal Pre-Budget Consultation Submission to the Standing Committee on Finance and Economic Affairs
Reform the SR&ED program to help foster R&D in Canada by:
raising the investment tax credit to 20% from the current 15%;
eliminating or substantially raising the upper limit for taxable capital phase-out range from the current $50 million; and
reinstating capital expenditure eligibility that was phased out beginning January 1, 2013;
Eliminate the 20% disallowance on arm’s-length consulting payments.
Establish the Plastic Technology Innovation Fund (PTIF) with an initial allocation of $200 million and operated by Natural Resources Canada to further research and development of groundbreaking plastic technology applications in Canada.
Re-authorize the existing funding for the Chemicals Management Plan (CMP) and specifically develop and expand all aspects related to international development to share Canada’s expertise.