The Scientific Research and Development (SR&ED) program, devised by the Canada Revenue Agency (CRA), is the largest and most generous scientific- and technology-oriented fiscal initiative in the country. Its goal is to financially support the efforts of those companies that are eager to bring about a scientific or technological advancement in their respective fields. CI
The Government of Canada encourages enterprising startups that conduct research and development activities in tandem with the eligibility requirements of the Scientific Research and Experimental Development (SR&ED) program. If you want to know whether or not your business meets the SRED eligibility in Edmonton, keep reading! Conducting Research and Development in Canada Lets You
Anxious about your chances of getting your project approved for the SR&ED incentive? Here’s what the CRA takes into consideration when determining the SRED eligibility of your Calgary business. A Quick Summary of the SR&ED Program The Scientific Research and Experimental Development (SR&ED) program is a nationwide tax rebate initiative, made available to claimants
You’re looking to expand your company’s R&D and this prompted you to claim the SR&ED refund. However, you were denied the tax incentive or received reduced benefits. If you are in this position, don’t fret! There is a possibility that you may have been wrongly denied. This article shares some guidance as well as preparation
In the past couple of years, the CRA’s scrutiny level in SR&ED eligibility audits has increased to a great degree. Therefore, you’ll have to be overly prepared (unlike most cases, being “overly” is a good thing here) and precise in your documentation, without any discrepancy. Each SR&ED project varies from another in terms of outcomes,
Are you a first-time claimant to SR&ED tax incentives? Even if you’re not, the confusion surrounding the eligibility for the SR&ED program is understandable, because every project is different. It’s important to know what makes a project qualified to avail the benefits of this program and how SR&ED consultants can assist in your endeavours to
Many competing Canadian businesses use various resources to their advantage, one of which is devoting significant resources to the scientific research and experimental development (SR&ED) of new products and processes. Some may wonder if they are eligible for government grants through SR&ED, but before getting into the nuts and bolts, it is important to get
Home to thousands of large tech companies nestling in the city’s core, Ottawa is not only the nation’s capital, but also a notable technology center in Canada. With the tech industry representing a sizeable amount of economic activity in the city, Ottawa has become one of the most desirable locations for up-and-coming businesses looking to
For many small to medium sized business owners, Spring is a crucial time as it marks the start of tax season. Between filing your business’ corporate taxes to preparing your SR&ED claim, tax season can quickly become an overwhelming and stressful time for first-time or less experienced claimants. In fact, many business owners who attempt
With tax season upon us, small business owners are likely working hard to prepare their corporate taxes and SR&ED claims. Designed to support and encourage businesses that are working to advance and innovate their respective industries through research and development efforts, the SR&ED program is one of the largest government funded tax incentive programs in
As one of the largest government funded tax incentive programs, the SR&ED program is designed to encourage Canadian businesses of all sizes and sectors to conduct more research and development within their fields, while also creating new jobs for Canadians. Providing over $4 million to about 18,000 claimants each year, the SR&ED program offers financial
Does your business need help offsetting its costs for research and development efforts? If your company focuses on progressing and innovating your industry’s work and technology, then it could be eligible for SR&ED tax credits. The SR&ED Program is the largest source of federal government support for research and development in Canada, providing over $4
Over the years, there have been a number of myths and misconceptions regarding the basics of SR&ED claims. Although the process does require specific proof of industry improvement, there are still some false statements that circulate, deterring potential eligible innovators from filing a claim. Preparing a SR&ED claim doesn’t have to be confusing, and with
As 2017 comes to a close, you want to make sure your taxed income includes the proper SR&ED deductions you may be eligible for. Your business’s contributions to Toronto’s top innovative industries makes you a valuable asset to Canada’s economy. So, if your research has created a new program, built on an existing product, or
Even being just a user of the latest gadgets – from staples like smartphones, to game consoles, and new lifestyle essentials like voice-enabled home assistants – you know important the technology has become. So when you work in the field, you’re likely to be fueled by burning passion not just to build on existing innovations,
