Good News! Provincial Tax Credits for companies doing R&D in BC have been extended for a few more years.
Last week during the 2014 British Columbia provincial budget by Finance Minister Michael de Jong, it was announced that BC would extend the SR&ED program provincial tax credits by 3 years. This means that all SR&ED eligible activities will be counted for the provincial credit as long as they are performed prior to September 1, 2017.
Although the date has been extended, the provincial SR&ED rules continue to be the same as federal. The basic outline looks like this:
For further clarification on how you can take advantage of this credit, talk to a BeneFACT consultant today. And to keep up with the latest SR&ED news, be sure to follow us on Twitter @sredconsulting.