The Scientific Research and Experimental Development (SR&ED) Tax Credit is a great opportunity for Canadian companies to access funds to support their R&D efforts. If you are new to SR&ED, or in need of a refresher, here are some basic stats for you on the program.  Still have questions? One of our resident experts could Read more…

When the Canada Revenue Agency (CRA) instigates an audit related to a particular SR&ED claim, the first step they take is to issue a request for information (RFI.) Claimants who do not have the right documentation exhibiting their scientific process at the ready are at a higher risk of getting their claim denied. Claimants typically Read more…

The Scientific Research and Experimental Development (SR&ED) tax credit is a valuable financing resource for Canadian firms, but SR&ED for the food and beverage industry is commonly overlooked by companies who don’t believe their work qualifies. The name itself can be misleading, as it implies work must be done in a lab by scientists, and Read more…

We often encounter companies who are not aware they are eligible for both the Scientific Research and Experimental Development tax credit (SR&ED) and provincial Digital Media Tax Credits (DMTC). Information Technology companies that build digital media products can often be eligible for both, but they may not explore both options for a variety of reasons Read more…

The Scientific Research & Experimental Development (SR&ED) tax credit program is a much needed financial resource for many Canadian companies. Recently, changes in SR&ED policy and interpretation (or lack thereof) of the Income Tax Act has made it increasingly difficult for firms to see a return on their investment, with more claims getting reduced or Read more…

The Canada Revenue Agency (CRA) may instigate an audit related to a particular SR&ED claim for any number of reasons, and when they do, they will request supporting evidence to ensure a claim is legitimate. One of the primary focuses of an audit is salary and wage expenditures in relation to projects that prove the Read more…

Provinces all over Canada have thriving business environments and lucrative tax incentives for the interactive digital media (IDM) industry. Here are some of the best provinces for digital media tax credits that help Canadian companies grow and strengthen their business. British Columbia (BC) Digital Media The history of the BC digital media industry dates back Read more…

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 claimants leave their claim preparation until the last minute. The Consequences of Being Late   Read more…

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 on what they will consider to be SR&ED in the manufacturing/shop floor/Experimental Development space” Actually, Read more…

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 and mid-sized Canadian Controlled Private Corporations (“CCPC”). The credits can more than double! We also Read more…