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Looking into 2014:
5 Questions of Eligibility

CRA's 5 questions of eligibility are becoming increasingly important in 2014. Don't risk your SR&ED claim being denied or not claiming your full entitlement. Speak with a BeneFACT SR&ED expert today to get started on maximizing your claim (1-855-TAX-BACK)

As a reminder, the 5 questions are:

1. Was there a scientific or a technological uncertainty - an uncertainty that could not be removed by standard practice?

2. Did the effort involve formulation hypotheses specifically aimed at reducing or eliminating the uncertainty?

3. Was the adopted procedure consistent with the total discipline of the scientific method including formulating, testing, and modifying the hypotheses?

4. Did the process result in a scientific or technological advancement?

5. Was a record of the hypotheses tested and the results kept as the work progressed?

SR&ED News

  • SR&ED and Due Diligence: Are you informed?
    The term due diligence is often used by the Canadian Revenue Agency’s (CRA) Research and Technology Advisors (RTA) when auditing a Scientific Research and Experimental Development (SR&ED) claim. Yet, a clear definition as it relates to SR&ED, especially in the … Continue reading
  • Is it Getting Tougher for Firms to Claim SR&ED Funding?
    The Scientific Research & Experimental Development (SR&ED) program is the largest tax incentive federal program, administered by the Canada Revenue Agency (CRA). It encourages Canadian business of all sizes and in virtually all sectors to conduct Research and Development (R&D) … Continue reading
  • The Early Bird Gets the SR&ED
    Starting the SR&ED claim preparation process early has many benefits. The most obvious is that earlier preparation leads to earlier submission and getting the tax refund sooner but there are other benefits as well. Even so, every year countless SR&ED … Continue reading
  • Are the CRA rules changing for manufacturing?
    We thought we’d take a little time today to discuss two of the most common issues and challenges currently facing SR&ED claimants in the General Manufacturing space. “It really seems like Canada Revenue Agency (“CRA”) is tightening up the rules … Continue reading
  • Plan Ahead for Your SR&ED
    Plan Ahead for Your SR&ED – Shareholders’ bonuses can’t be claimed for SR&ED credits.  Or can they? In our last post, we discussed the impact of the SR&ED expenditure limit on the SR&ED credits that can be earned by small … Continue reading