If you are in the food production industry, the date August 4, 2012, has significant meaning for you. This is the date when the new enhanced food labelling regulations come into full effect. These new regulations mostly pertain to allergens such as gluten, nuts, and added sulphites (as well as mustard), but if you are involved in any aspect of food manufacture, chances are they could drastically affect your business.

Food, as defined by the FDA, doesn't just mean finished products. "Food" is defined as anything that is manufactured, sold, or represented for use as food and drink for humans, including any ingredients that may be mixed with food for any purpose. "Ingredients" are individual foods that are combined to make packaged food products. Many "ingredients" that previously were exempt under FDA rules will now be subject to these more strict restrictions and labelling requirements. All of these standardizations are in line with the Codex Alimentarius General Standards for Labelling of Pre-packaged foods. Under the new regulations, when protein, modified protein, or protein fractions from the following foods are present, these allergens need to be declared using plain language:

Also, gluten sources will need to be declared when a food contains gluten protein, modified gluten protein, or gluten protein fractions from barley, oats, rye, triticale, or wheat (or a hybridized strain from any of these cereals).

Sulphites still have to be declared at any level of use when directly added to food as a food additive, or when indirectly added to food as components of an ingredient that's not exempted from component declaration. These new regulations also require that sulphites added as components of an ingredient exempted from component declaration will have to be declared when the total amount of sulphites contained within the food is 10ppm or more in the finished product.

The new regulations require that specific sources of all hydrolysed plant proteins, starches, modified starches, and lecithin be identified by their common names in the list of ingredients, or in a "contains" statement.

All of these potential allergens can often be found not only in the food products, but also in the additives that can be placed in food for various functions. Some of those functions can be: acidity regulation, anticaking agents, antifoaming agents, antioxidants, bleaching agents, carbonating agents, colour, or colour retention agents, emulsifiers, emulsifying salt, firming agents, flavour enhancers, flour treatment agents, foaming agents, gelling agents, glazing agents, humectants, preservatives, propellants, raising agents, sequestrants, stabalizers, sweetners , and thickeners. In the food processing/packaging business, this can mean huge changes. Ingredients that before were exempt from regulations will now have to be tested and documented for inclusion on labels, ingredients may have to be changed, there is a whole world of issues that could arise for this industry due to these new regulations. Many businesses are struggling with ways to figure out how to come into compliance with these regulations before the firm date of August 4th, 2012.

This is where the SR&ED tax credit can come into play. SR&ED stands for Scientific Research and Experimental Development Tax Credit, and it's part of the Income Tax Act. It's a $4+ Billion dollar federal tax incentive program that provides money to companies who are innovating in their industries. Within the food and beverage industries, there are a lot of different eligible activities for the SR&ED program. Some of the types of activities could include:

Development/improvement of products/procedures - the development of new manufacturing processes, nutritional supplements, improving the nutritional profile of prepared foods, removing or reducing allergens.

Improvement in food quality and preservation - improved shelf life without the use of additional chemicals, improved sensory characteristics of products, enriching foods with things like antioxidants.

Production chain changes made to the line - changes to existing equipment or integration of new equipment into a production line.

Production upgraded to commercial scale - scaling issues that aren't resolved by current practices that could imply issues or challenge for you. Difficulties in things like obtaining established weights and tolerances, variances in quality of prepared food, these are some of the challenges that face the commercial scaling of production.

Packaging products - the impact of new technological packaging methods on products and processes, improved mechanical aspects of new scales, and packaging machines.

Environmental projects - the sustainable improvement of processes to counteract environmental impact.

Effluent treatment - decreasing the quantity of effluents, or changes in the process to obtain effluents that meet municipality's increasingly strict criteria.

The food industry generally designs certain key attributes into it's products; ie. Product stability, consistency in texture, quality, flavour, form, extended shelf life and safety. Something as standard as changing recipes, to improve taste, quality, texture, or nutritional properties can be SR&ED eligible activities. Even consumer testing can become eligible for tax credits when it's used as an analytical tool in support of an SR&ED project. Plant trials, product development costs, process development issues such as scrap rates, line changes, and variations in raw materials. All of these variables can play a factor in a potential SR&ED claim.

This is where companies like BeneFACT Consulting Group can help you. It can be a difficult, convoluted process to identify SR&ED eligible projects in various parts of the food production chain, but they are there, and BeneFACT can find them. Oftentimes food companies don't claim SR&ED, or feel they aren't eligible, mostly due to a lack of understanding as opposed to a lack of eligible projects. Our technical consultants will do all the due process to investigate every aspect of your business, and identify projects that are eligible to claim under the SR&ED program. What they find might surprise you, and what they do find may be claimable.

BeneFACT Consulting Group is the largest independent SR&ED firm in Canada. We have a highly specialized team of technical and financial consultants, with specialists in every industry vertical. Several of our employees are former CRA, and our relationship with the CRA helps to move the claim process forward in a much more efficient way. Do your business a favor, and call now to book your free, no obligation consultation and SR&ED assessment. You can also book on our website, or download more information about your industry at www.benefact.ca. Call toll free at 1-855-TAX-BACK (855-829-2225).

BeneFACT Consulting Group wishes all of our clients, friends, and associates a wonderful and joyous holiday season, and a productive and successful 2012.

"If only I'd had saved that….."

How many times have you made this kind of statement to yourself? They say that hindsight is 20/20, and the saying holds true. It's much easier to see in the now what you could have done differently in the past. How much more devastating if that one thing you hadn't saved or considered was the difference between a successful SR&ED claim, and a claim being denied.

The Canada Revenue Agency has established many policies, rules, and regulations with regard to the SR&ED claim process. They have also spent much time in recent years making the qualifications for eligibility far more stringent, and their requirements for documentation are paramount. The term "documentation" is very generic. Oftentimes companies have no idea of what kinds of documentation are necessary to support their claims, and this can, in effect, reduce the chance for their claims to be approved by the CRA. We have written articles before about documentation, but it definitely merits repetition about the importance of verifying documentation, as this can make or break a claim.

Documentation doesn't just fall into the realm of paystubs and invoices. There are a large variety of documents that can support the legitimacy of your SR&ED claim. It's far better to have too much information than not enough. Anything pertaining to a project on any level could count as legitimizing documentation, even down to a few ideas jotted down on a napkin! These documents prove to the CRA that there's been a process of development and problem solving going on. Here is a list of some of the documents that can be used to help substantiate your claim:

Oftentimes, companies are unaware of activities they perform in the normal process of development and experimentation that do qualify as SR&ED eligible. This is where companies like BeneFACT Consulting Group come into play. We can take the documentation you provide and use it, along with interviews by our highly specialized technical and financial consultants, to help to identify work that has been accomplished that is eligible for inclusion in your claim, and can increase your return. Without the scientific knowledge in all aspects of each industry vertical, "small" things could easily be overlooked, and it's oftentimes all those activities cumulatively that can increase claim size to a measurable degree. Indeed, there is much information available about what types of objects and activities are eligible, however, no Google searches or websites can replace the value and knowledge of years of experience. Not to mention, even the research on it's own is a massive undertaking of time. The act of claim preparation is a highly involved process, add to it attempting to understand aspects of tax law that are oftentimes vague and convoluted, and you have a perfect storm that is often the deterring factor for companies to claim SR&ED at all. Don't leave money on the table because of a lack of a bit of understanding, and most certainly not for a lack of paperwork.

BeneFACT Consulting Group is Canada's largest independent SR&ED provider. We have a track record of thousands of successful claims filed with the CRA, mostly due to the fact that industry specialists are preparing those claims. Our team of dedicated technical and financial consultants, some of whom are ex-CRA employees themselves, understand the language of SR&ED, and put that knowledge to work for you. Getting an assessment of your SR&ED eligibility is free, with no obligation. Visit our website or call 1-855-TAX-BACK (829-2225) to talk to an expert.

Everyone loves to hear good news about their country, and this week is Canada's week! There have been several reports released in the last few weeks that are lauding Canada as THE place to do business. Ernst and Young produced a report about Canada's culture with regards to business. According to their report, 88% of Canadians believe that the culture in this country encourages entrepreneurship. Another report from Forbes Magazine ranks Canada #1 in it's "Best Countries for Business". Canada performed so well that it was the only country that ranked in the top 20 in 10 of the 11 metrics they used to create the rankings. Canada also received top rankings in the "Global Competitiveness Report" for the low number of procedures required to start a business. All of these factors together lend to a Country that is truly a tantalizing place to start a new business for anyone.

New businesses are sprouting up all over, and these celebrated factors are part of the reason why. When a new business is developed, there are certain factors for success that are required such as planning, investment, research and development, and ultimately, the production of products or services. This again, is where Canada gets a huge win, in that we have structures in place that support business on these levels too. Part of the Canadian Government's incentives for innovation and economic stimulation is a system of contributing to some of the most costly aspects of doing business, such as researching and developing new products, processes, materials, etc. They do this in the form of the Scientific Research and Experimental Development Tax Credit system, which is part of the Tax Act. Businesses that perform research and development can get a substantial portion of their costs offset through the form of tax credits and refunds. The Scientific Research and Experiemental Development Tax Credit (also known as SR&ED) puts in excess of $4 billion dollars annually back into the hands of small business, and is one of the most generous Government R&D incentives in the world.

The SR&ED program is most especially helpful for Canadian Controlled Private Corporations (CCPC's). A CCPC can earn an investment tax credit (ITC) of 35% up to the first $3 million of qualified expenditures for SR&ED carried out in Canada, and 20% on any excess amount. Other Canadian corporations, proprietorships, partnerships and trusts can earn an ITC of 20% of qualified expenditures for SR&ED carried out in Canada. The SR&ED credit is a refundable tax credit, even if your company makes no profit, you will get the appropriate refund back in cash. Besides these tax credits (and various provincial tax credits), R&D tax incentives provide a full tax deduction in the year the expenditures are incurred, even if they are capital in nature. You can also carry over R&D deductions to the extent that they are not needed in the current tax year.

One of the truly beautiful things about the SR&ED tax credits is that they are open to all businesses in all industry verticals. Sole proprietorships and partnerships may qualify too, as long as they meet the SR&ED eligibility criteria with their projects. What is the criteria? The CRA qualifications for the program are that the "work must advance the understanding of scientific relations or technologies, address scientific or technological uncertainty, and incorporate a systematic investigation by qualified personnel". Some of the work that qualifies would be projects that involve experimental development, applied research, basic research, and support work.

SR&ED can seem convoluted, and it certainly can be for first-time claimants, but this is where companies like BeneFACT Consulting Group can help. We will work with your business every step along the way, from helping identify and organize supporting documentation for your claim, having our team of highly specialized technical and financial consultants turn that information into a SR&ED claim. We will complete the submission process, and even defend your claim with our specialized legal team should it be challenged by the CRA. Our success rate for defended claims is unsurpassed in the industry.

New businesses are the lifeblood of our economy, and BeneFACT takes pride in doing our part in assisting businesses to leverage their SR&ED tax credits to their benefit. Our specialized team of leading SR&ED technical and financial consultants (some are even ex-CRA) can work side by side with you to help ensure successful claims, keeping your focus where it belongs, on growing your business. Call now for a free no-risk, no-obligation consultation and assessment. Put Canada's #1 Independent SR&ED service provider to work for your business.

As promised, here is the final pic of our now-shaved Movember champions! We would have put it up sooner, but it's amazing how difficult it is to find all these guys in one place sometimes! They are a busy, hard-working group. We are proud of all their efforts, and we thank everyone again for their support and contributions of our BeneFACT Movember team.

So it's the beginning of December and the end of a very special month! Movember is now over, and the BeneFACT team of moustache warriors are happy to have their top lips back! We are extremely proud of our team, and we're pleased to announce that they raised over $1000 for men's health in the month of November! Thank you to all the employees, clients, friends and family who helped by donating to the cause, and we send out thanks again to all of the patient significant others who sat and watched their Movember candidates chew on their moustaches near to the end of the month. BeneFACT was also pleased to be a contributor. We're sure that next year, our team will be bigger, hairier, and will raise even more money for this worthy cause.

Here is the final picture of our boys with their Movember lipwarmers, and the post-shave photo is to come.

Enjoy, and again, thanks everyone for their support, and most especially thanks to Team BeneFACT for doing so much to raise awareness of men's health and prostate cancer. We are all proud of you!

Friday, December 2nd was a very special day at BeneFACT. We completed our first annual toy drive for CP24 Chum Christmas Wish. CP24 Chum Christmas Wish is one of the largest distributors to children in need in the GTA. Not only did we have a lot of fun with games and contests to make it more enjoyable, BeneFACT raised over 40 brand new toys for children in need this holiday season. BeneFACT strongly believes in making the world a better place for everyone, not just our clients, and this is another way we are working to benefit our community. We wish all the joys and happiness of the season to children in need, both at home, and worldwide. They all deserve a joyful holiday experience.

So it's the beginning of December and the end of a very special month! Movember is now over, and the BeneFACT team of moustache warriors are happy to have their top lips back! We are extremely proud of our team, and we're pleased to announce that they raised over $1000 for men's health in the month of November! Thank you to all the employees, clients, friends and family who helped by donating to the cause, and we send out thanks again to all of the patient significant others who sat and watched their Movember candidates chew on their moustaches near to the end of the month. BeneFACT was also pleased to be a contributor. We're sure that next year, our team will be bigger, hairier, and will raise even more money for this worthy cause.

Here is the final picture of our boys with their Movember lipwarmers, and the post-shave photo is to come.

Enjoy, and again, thanks everyone for their support, and most especially thanks to Team BeneFACT for doing so much to raise awareness of men's health and prostate cancer. We are all proud of you!

Bad news travels fast. This is definitely something that everyone can acknowledge, as there's very little sensationalism in good news. Unfortunately, this being the reality, oftentimes the positive stories get swept under the rug. With all the criticism of the SR&ED program as of late, it's nice to finally see some good press about companies that are succeeding, and utilizing SR&ED as an ingredient in their success.

Select Start Studios is an Ottawa-based firm, based in IT and mobile application development. A link to the article is included, but what we would like to focus on is what their CEO, Tarig Zaid, claims is one of their ingredients of success. Quoted from the interview in the article, "We would not be where we are today without IRAP grants and other forms of government support, which were very helpful in terms of commercializing our first products. SR&ED tax credits are way too valuable to us to even think about moving our headquarters to the States."

There we have it in a nutshell. The SR&ED program, despite heavy criticism, does help businesses. And more importantly, it helps keep those businesses (and the subsequent jobs they create), in Canada. Canadian companies staying in Canada also increases the chances that Canadian-created products, processes, and IP help to benefit the Canadian economy. The system, like all systems, does indeed have it's flaws, but when it all boils down to it, it does what it's supposed to do. Select Start Studios is only one of many businesses who have had the opportunity to grow and expand due to programs such as SR&ED, and IRAP, but sadly, these examples are more often than not overlooked in favor of more polarizing and sensationalistic stories. Everyone has an opinion, but the proof is most definitely in the product. The SR&ED program works.

Can SR&ED help your business? You might be surprised. SR&ED is part of the Tax Act, and is implemented in a non-discriminatory way. It's one of the few programs that can assist many types of business, and is unaffected by factors such as geographic location or industry vertical. It's the great equalizer of government incentives, and it does so in a way that allows businesses to dictate their own R&D priorities.

BeneFACT Consulting Group is Canada's largest Independent SR&ED services provider. We can help assess your company's eligibility for SR&ED tax credits. Our highly specialized team of technical and financial consultants can help identify projects that are eligible for the SR&ED program. Get in touch with us now, either by calling 1-855-TAX-BACK (829-2225), or by visiting our website at www.benefact.ca and taking our SR&ED Health test. Who knows, maybe your business will be the next big SR&ED success story in the news!

If you want to read the full article about Select Start Studios, you can find it here: http://www.obj.ca/Opinion/Bruce%20Firestone/2011-11-17/article-2807786/Select-Start-Studios-grows-exponentially-by-helping-clients-of-clients/1

The Movember movement for men's health awareness (especially prostate cancer) has become a huge global movement. In our effort to support this worthy cause, BeneFACT has put together a fantastic team of Movember Moustache-growers! Team BeneFACT, Captained by the stalwart Stephen Snell, is already well on their way to hair-lipped fame as the office saviors of their mo-fellows!

We encourage our staff, friends, clients, and anyone who feels a desire to support the cause to check out our Team BeneFACT Movember page at http://ca.movember.com/mospace/2719606/ and please, donate generously! This is an extremely valuable, important cause, and every little bit helps. Both our wonderful participants, and our team as a whole, greatly appreciate your support of their efforts to further the awareness of men's health (and thanks to their significant others for putting up with the bristles in support of a good cause!).

The dictionary defines "innovation" as:

     1. Something new or different introduced
     2. The act of innovating - introduction of new things or methods.

Seems fairly straightforward, but what seems to be happening a lot lately is that the business community (and governments) are using the concept of innovation interchangeably with the concept of research and development. Strictly speaking, research and development is the engine of innovation, but the two things are not the same. They are completely different steps in a process, and while they are connected, one does not necessarily lead to the other. In order to discover, develop, or otherwise create innovation, the process of research and development is the ideal vehicle to the goal. An "innovation" in the terms of business, however, is a very vague term that has different meanings, interpretations, and emotional connotations to each person who hears it. In terms of business, it's a process, product, or method, that is being put into practice or use in the interests of improving products or processes, creating efficiencies, creating new products or processes, and one would assume, generally involves commercialization of the results of research and development. The two terms have been used almost interchangeably in much of the press available as of late, but the real fact is, they are not one in the same. Where is the disconnect occurring?

A lack of innovation speaks to a different issue than a lack of research and development. R&D gets businesses to a place where they can discover or develop innovations. The reality is that the results of R&D really aren't "Innovations" in the real sense of the word until they are implemented, either the process is used, the product is commercialized and sold, somehow the fruit of that research and development is implemented to make change. R&D can happen on an ongoing basis with no innovations resulting. Sometimes, the most important results that come from R&D is how NOT to do something. This doesn't result in innovation, per se, but does it make that research any less valuable to those embarking on it? Not necessarily. It may mean a trip back to the drawing board, but it doesn't mean that the lessoned learned can't be applied in order to further a business's goals.

So where are things going wrong? Is there a lack of R&D happening? Quite the opposite, R&D is still alive and well in business. Granted, many recent reports have cited a drop in R&D in business as an issue, but most of the companies that have reduced their R&D are increasing their profits (which would lead one logically to assume that their R&D led to innovation and therefore products/processes on the market to make the company money). Seems like a success story, as opposed to a story of an overriding problem. So where does the problem really lie? Is there a lack of Federal support for R&D? Absolutely not. In Canada, we have the Scientific Research and Experimental Development Tax Credits (SR&ED), which is a huge support for R&D in the Canadian marketplace. In fact, 70% of the companies surveyed in a recent investigation by the Secretariat to the Review of Federal Support to the Research and Development Expert Panel had a high level of satisfaction with the SR&ED program, 70% believed that this and other Federal programs had a significant impact on their firm's ability to conduct R&D and in increasing their firm's long-term investment in innovation. 66% of those companies surveyed feel that Federal programs supporting R&D have benefitted their firm's ability to carry out incremental amounts of R&D, and 58% of firms surveyed said that as a result of support received from the Federal programs in relation to their R&D, their firms have expended more resources on R&D than they otherwise would have. Those are some very compelling numbers, and to be honest, at somewhat of a disparity to what the recommendations of the Panel (in their "Innovation Canada: A Call to Action" report, otherwise known as the Jenkin's report) might actually imply.

So what really is it that's lacking? Those same businesses, the ones these recommendations are meant to work for, the ones who clearly stated their feelings based on their own experiences and needs, were more than happy to also give answers in this regard. The actual criticism of the SR&ED program was minimal, with suggestions for improvements of things like improving the definitions, simplifying reporting requirements (or defining them better), creation of actual awareness of the programs, and support needed for commercialization, and the creation and retention of intellectual property (read: Innovation). Research and development is alive, well, and thriving. It's the next step in the process, the development of those results into actual products and processes that can make businesses (and the economy) money. The actual act of innovation is lacking, and it's not because of any deficiency on the part of the research and development side of the coin. To innovate, to implement processes and build new products (from assembly lines to acquiring new materials to training staff in new techniques), costs money, oftentimes, large amounts of money. How often in fact, are potential innovations left laying on the shop floor because it costs far more to actually put the research and development results into practice than it did to get the R&D done? This is also part of the reason why intellectual property created by Canadian business ends up south of the border. SMES have great support in actually doing the research to come up with new developments, but when the time comes to actually apply what they have learned/developed, the support dries up, and there are very few structures in place to help companies make that next step. The next best thing is to make some kind of recovery from all that hard work and investment, and sell the IP rights to a company that can afford to actually innovate with it. Is this more of a reflection on the lack of R&D funding or support? From a logical point of view, absolutely not. The disconnect seems to be from the point that a potential innovation is tested and researched, to when it can be made into a full-scale implemented business innovation. Where does this leave business? For now, doing the best that they can with the little support they actually get in the commercialization process. There ARE options available, however, they can sometimes require some digging. Should the government perhaps take another look at where the disconnect is, and re-address the issue of a lack in innovation? Absolutely. Will they? Who knows, but the SR&ED program is (for now) here to stay, and is doing what it's supposed to be doing. Supporting Canadian businesses to develop and grow.

BeneFACT Consulting Group has helped over 1000 clients to file their SR&ED claims. We are Canada's largest Independent SR&ED Provider, and we are very proud of the part we have played in the businesses we work with in forwarding their Research and Development efforts. We have a staff of highly trained technical and financial consultants (some ex CRA employees) who understand the intricacies of SR&ED and how to get you the most out of your claim. We also have many advantageous relationships with companies who can help with next steps (after R&D is complete), and are always happy to point our clients in the right direction. Get in touch with BeneFACT and book your no-cost, no obligation consultation to assess your SR&ED needs and eligibility. Check us out online at www.benefact.ca, or call us toll-free 1-855-TAX-BACK (829-2225).

Not surprisingly, RIM is at the top of the heap for research and development spending in Canada. In fact, they increased their spending on R&D by 26% in 2010. Large companies like RIM have to stay competitive, and to do this, they have to continually execute R&D. They do get less refundable tax credits than smaller companies, but that's the way it should work. Large companies that are making good profits don't need large chunks of government money in order to progress and thrive. Smaller businesses need help, and that's where programs like SR&ED come into play. The structure of SR&ED (The acronym for the Scientific Research & Experimental Development Tax Program) favors smaller Canadian Controlled Private Corporations (CCPCs), along with companies that do not exceed certain thresholds of taxable capital. Again, this is the way it should be. SR&ED is suited for small to medium sizes businesses, and let's face it, these are the businesses that need the most help with funding R&D.

Of course, the purpose of R&D, and what it means to each company as a whole, is as different as the individuals running those companies. The continual reports and articles that say that R&D spending is down, so something must be fixed and that this is an indication that Canada isn't innovating anymore, are quite skewed. The fact of the matter is, R&D, especially in terms of smaller businesses, works in cycles. The vast majority of companies that perform R&D do not have the need to perform it on a continual and ongoing basis. A company performs R&D, comes up with their solutions, and then applies those solutions to their process or products and puts the innovation to USE. This is the entire point of having an R&D structure in the first place, in order to allow business to make improvements, and then to actually capitalize on them. The fact that, in the same article, it claims that these different companies who spent less on R&D have increases in revenues should actually be an indicator that the system is WORKING, not that it is broken.

The benchmark by which innovation is measured also seems to be somewhat skewed and/or biased. Research &Development is not the kind of undertaking where you put a quantifiable amount in and get the same quantifiable amount out. Sometimes, immense amounts can be spent on a project to get a result that might seem minimal to some, however to the business that requires it, it could be a massive step forward in innovation, and it enables them to capitalize their products, processes, or services on a larger scale, or with more profitability. Other businesses spend smaller amounts, get bigger results than the amount of "effort" they put in, and take the technology or innovation and apply it to their business model in just the same way. The whole point of progress and R&D spending in the first place is so that companies can USE what they learn to make money. It almost seems like, in the push to compete with the "Jones's" (other Countries), the fact that progress IS being made, and that companies ARE profiting from their R&D efforts aren't as important a factor as the statistics themselves. Numbers are simply a guideline, but they don't tell the stories of each of the individual businesses and what R&D spending means to them, or has done for them (or for the Canadian economy as a whole).

Research and development is the backbone of business, and the SR&ED program is there to assist those companies that don't have $1.3 billion dollars laying around to invest in R&D. SR&ED is non-discriminatory based on industry, region, or innovation. It's an equal opportunity credit to help small-to-medium sized businesses to guide their own research initiatives and priorities, and to put the money to the use that is most applicable and beneficial to them. It allows business to innovate, in order to be competitive not only on a domestic level, but most especially, on an international level.

Does your business qualify for SR&ED? BeneFACT Consulting Group has helped over 1000 clients to claim their R&D under the SR&ED program. We are the largest independent SR&ED service provider in the country, and our team of over 50 technical and financial consultants can help you to assess your eligibility, and to assist your business with their SR&ED claims to help foster growth and innovation. Already claiming SR&ED? We invite you to take this opportunity to see if you are optimizing your SR&ED claims and perhaps leaving money (and opportunity) on the table. Contact us now for a free, no obligation assessment of your business's R&D eligibility, and join the list of companies who are leading Canada's innovation curve. Call 1-855-TAX-BACK (829-2225) or visit our website at www.benefact.ca

As many companies come up on a December 31 fiscal year end, they need to start focusing towards not only filing their corporate taxes, but preparing the documentation required to file their SR&ED claims. Many companies, however, are uncertain about what types of documentation can be useful in this process. Here is a brief run-down of some types of documentation that are acceptable for supporting your SR&ED Claim:

Having this documentation ready in advance will be a huge advantage for your business in preparing your SR&ED claim. Companies such as BeneFACT Consulting Group will use all of this documentation to prepare the most comprehensive claim possible. In fact, BeneFACT has the added advantage of having our SATS system, our specially designed CMS which allows our clients to manage and organize documentation on a real-time basis to have everything available for use immediately for preparation of their claims. Having the ability to put this documentation into our system on-the-go removes the necessity to compile things at the end of the year and try to re-create the past.

The SATs system integrates directly with our back-end claim management system, BCMS, putting all information directly at our fingertips to ensure a smooth and seamless claim cycle. Having this system at our disposal allows us to process claims even more efficiently and effectively than others are able to do, and it is part of the reason our success rate with the CRA is so excellent. They are aware that our systems allow us to have all the information they require readily available to back up all claims at the touch of a button.

BeneFACT Consulting Group is Canada's largest independent SR&ED consulting firm, with over 50 of the nation's top technical and financial consultants specializing in SR&ED Claims in various industries. We can give you a risk-free consultation free of charge to assess your SR&ED eligibility, or, if you have claimed before, to examine your previous claims and optimize your claim for the next year and going forward. We have filed more successful claims on behalf of our clients than any other SR&ED firm in the country. Put Canada's Premiere SR&ED Experts to work for your business.

Call us now at 1-855-TAX-BACK (829-2255) or visit our website at www.benefact.ca for more information, or to arrange to speak with one of our SR&ED Experts.

Government bodies the world over are taking more initiative in dealing with substances they feel are potentially harmful to human health. The Canadian Government has been especially decisive with these initiatives, and recently announced the implementation of a new Chemicals Management plan that includes new protective measures to ensure that chemicals are managed properly. The new plan involves a very aggressive timetable and a highly ambitious and accelerated evaluation process of 500 substances.

Any companies who had to deal with prior bans and initiatives like CMP & ROHS can appreciate the speed at which policy changes impact operations. For industry, this presents a massive challenge as companies are forced to replace, remove, and re-work their products and processes in order to come into compliance with these new standards. Many companies, especially within the manufacturing sector, will be hard-hit, but in order to comply with the new regulations, they must adapt.

Fortunately, the SR&ED program can be especially applicable when companies are forced to change or alter their processes or materials to come into compliance with new government regulations. Such changes often require experimental development.

Attached to the Tax Act, the SR&ED program provides financial incentives to companies conducting business in Canada to carry out experimental development activities. As the most generous incentive program in the world, SR&ED can offset a significant portion of the costs associated with changing established products and/or processes in order to meet new regulatory requirements.

Understanding that these changes are required, companies can be pro-active in planning their SR&ED expenditures, and documenting the processes in order to claim these required adaptations. This is where companies like BeneFACT Consulting can give valuable input on how to structure the process in order to ensure that their R&D projects are claimable as SR&ED. The SR&ED Program supports attempts to create or improve materials, devices, products, or processes only when there's evidence of systematic investigation attempting a technological advancement.

BeneFACT has assisted more companies than any other SR&ED firm to make their SR&ED claims. Our group of highly specialized technical and financial consultants can execute the most optimized claim possible for your industry and business.

To find out more about how the new Chemical Management Plan can affect your business and your R&D claims, call BeneFACT Consulting group at 1-855-829-2255 (TAX-BACK), or visit our website at www.benefact.ca, and put our technical expertise to work for your business.