Bill C-15 received Royal Assent on 26 March 2026, raising the maximum annual expenditure limit for the enhanced 35% refundable SR&ED investment tax credit from $3 million to $6 million (a max $2.1M federal refund). The enhanced-rate phase-out now runs over a broader taxable-capital range of $15M to $75M, Canadian public corporations gained access to the 35% refundable rate, and capital expenditures after 15 December 2024 are eligible again. Measures apply to tax years beginning after 15 December 2024.
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Canada doubles SR&ED enhanced ITC limit to $6M; 35% refund reaches more startups
Why this matters for founders
A Canadian-controlled private corporation doing R&D can now claim the 35% refundable credit on up to $6M of qualifying spend, so founders should re-scope their SR&ED claim upward for the current fiscal year and consider CRA's new pre-claim approval to lock in eligibility before filing.
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