BC Provincial Credits Extended for Companies Involved in R&D

By: BeneFACT Marketing in Uncategorized

February 28th, 2014

Good News! Provincial Tax Credits for companies doing R&D in BC have been extended for a few more years.

British Columbia flag Canada

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.

BC SR&ED Tax Program Rules

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.

SRED Program : R&D Tax Incentive