Form T1145 Agreement to Allocate Assistance for Sr&ed Between Persons Not Dealing at Arm's Length - Canada

Form T1145 Agreement to Allocate Assistance for SR&ED Between Persons Not Dealing at Arm's Length is used in Canada for allocating assistance for scientific research and experimental development (SR&ED) between individuals or entities who are not dealing with each other at arm's length. This form helps to determine the fair allocation of SR&ED assistance in situations where there may be related parties involved.

The form T1145 is filed by the party that is allocating assistance for SR&ED (Scientific Research and Experimental Development) between persons who are not dealing at arm's length in Canada.

FAQ

Q: What is Form T1145?
A: Form T1145 is the Agreement to Allocate Assistance for SR&ED between Persons Not Dealing at Arm's Length in Canada.

Q: What is SR&ED?
A: SR&ED stands for Scientific Research and Experimental Development. It is a Canadian tax incentive program for businesses that conduct research and development activities.

Q: Who needs to file Form T1145?
A: Form T1145 needs to be filed by Canadian taxpayers who have entered into an agreement to allocate SR&ED assistance with a person they are not dealing at arm's length with.

Q: What is the purpose of Form T1145?
A: The purpose of Form T1145 is to allocate SR&ED assistance credits between two parties who are not dealing at arm's length.

Q: What information is required on Form T1145?
A: Form T1145 requires information such as the names and contact information of both parties, details of the SR&ED project, and the amount of SR&ED assistance to be allocated.

Q: When is the deadline to file Form T1145?
A: Form T1145 must be filed by the due date of the tax return for the taxation year in which the SR&ED assistance was received.

Q: What happens if I don't file Form T1145?
A: Failure to file Form T1145 or providing false or misleading information on the form may result in penalties or denial of the SR&ED tax incentives.

Q: Can I amend Form T1145?
A: Yes, you can file an amended Form T1145 if there are changes to the allocation of SR&ED assistance between the parties involved.

Q: Do I need to keep a copy of Form T1145?
A: Yes, it is recommended to keep a copy of Form T1145 and any supporting documentation for at least six years in case of a CRA audit.