Category:

SR&ED

November 27, 2012

Precedent Set in Recent SR&ED Case

An HVAC company recently won a victory in tax court by appealing the CRA’s SR&ED review findings.  Read the full findings through Tax Court of Canada. In our opinion, the honourable Judge Robert J. Hogan has taken a strong, positive step toward a further understanding and acceptance of claimants’ applications through the SR&ED review process. His Read more…

November 23, 2012

SR&ED in the News: Gaming Industry Featured in Recent Macleans’ Article

There are certain industries that seem to be a natural fit for the SR&ED Tax Credit Program. Gaming companies which involve development of product architecture through overcoming problems and SR&ED make a perfect match. Back in October, Macleans featured an article “How the Feds Help Small Game Developers: Tax Credits and Grants”, by Nick Taylor-Vaisey about game developer, Magmic, and Read more…

November 21, 2012

The Importance of Security with your SR&ED Claim

One of the biggest issues surrounding a SR&ED claim is the importance of keeping sensitive information absolutely secure. SR&ED claims are a synopsis of the innovation and technological advancements within specified industries, and the last thing a business owner would like is to see that information shared (accidentally or not), with a competitor. When considering hiring a third Read more…

November 19, 2012

You Could Be Missing Out By Doing SR&ED Alone

One of the biggest (and most costly) mistakes a company can make in regards to Scientific Research and Experimental Development tax claims is to attempt to go it alone.  As much as the SR&ED program was implemented to reward Canadian companies to expand on their innovative activities, the filing process itself is intimidating and complex. Read more…

October 16, 2012

SR&ED History in Canada!

Did you know that Industrial tax incentives in Canada have been in place since at least 1944? 1944-1986 Traditional tax deductions and tax credits for R&D are introduced. 1987-1993 Moderated abuses and a more simplified administration introduced. 1994-Present Clarified definition of experimental development, broadened eligibility re: Qualified Small Businesses, allowed proxy calculation for overhead, conducted Read more…

August 3, 2012

R&D Project Failed! Now What?

Your Development Project Failed, Now What? Do you still qualify for SR&ED? One of the common misconceptions about the SR&ED program is that your projects need to be successful to be eligible. In actual fact, projects that have failed often make the best type of SR&ED projects, as they fundamentally meet one of the three Read more…

July 26, 2012

Why Hire a SR&ED Consultant?

Running your own business is hard enough, let alone applying for your SR&ED tax credit. It often seems like more trouble than it’s worth. Filling out all the correct paperwork can be frustrating, time consuming and, if completed incorrectly, may result in your company not receiving the credit you deserve. A well-established consulting firm like Read more…

March 16, 2012

Myth: Our Secrets are at Risk!

Don’t worry! BeneFACT offers a legally binding Non-disclosure Agreement (NDA) to our clients. In addition to this, we have always been at the forefront of deploying sophisticated IT security measures to safeguard sensitive information. A successful claim does not need to disclose sensitive information; it is just a short story describing the sequence of your Read more…

March 9, 2012

Common Questions Asked: What Businesses Qualify for SR&ED?

Scientific Research and Experimental Development (SR&ED) detailed in subsection 248(1) of the Income Tax Act can be summarized as: …systematic investigation or search carried out in a field of science or technology by means of experiment or analysis . . . to advance scientific knowledge or to achieve technological advancement. Therefore, any Canadian business operating Read more…

March 9, 2012

Myth: I don’t think we do SR&ED, so we must not qualify for the tax credit.

When it comes down to it, many companies don’t file for the SR&ED (Scientific Research & Experimental Development) tax program, because they’re not familiar with it or they believe they just don’t qualify. BeneFACT Consulting Group has found that many companies believe they don’t qualify because of their perception that they need to be performing Read more…

1 2 3 4