Back in January we discussed our thoughts on the new FTCAS being offered at CRA. One of our clients received their first FTCAS letter in February and a few have received it during the year. Our experiences with the staff at CRA and those administering the program has been largely positive. As the CRA explained, once an FTCAS letter was received and the information-only meeting was had the clients would receive their tax credit accepted as filed shortly after. This happened every time. Now, our clients are beginning to receive follow up calls from CRA reminding them that their next year’s claim is due to be filed. Over the course of the year we only had two issues with the program.
1. Typically, the RTA that was sent to deliver FTCAS did not specialize in the same area of science or technology that our clients did. This made it difficult to answer some of the questions my clients had.
2. On one occasion, the RTA told our client, and I’m paraphrasing here, “The reason for the FTCAS was so that claimants didn’t need to use consultants anymore”. Our client quickly looked at us and said, “So we don’t need you then”. We remained quiet, and let the RTA continue with their service and by the end of the 2 hours they were there our client said to us, “That lady had us so confused, we’re really glad that we’ve got you to help us navigate this program.” Needless to say, we weren’t impressed, but after a quick call to the A/D of the SRED program the verbiage was quickly rectified, hopefully, for future FTCAS experiences.
The long story short, is in it’s first year the FTCAS has seemed to be successfully implemented. It will be interested to see how the CRA will continue to use this service in the coming years.