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July 30, 2014

Shredding Common Misconceptions About SR&ED

Are You Sure You’re Getting the Money You Deserve? Yes, we know, it’s an old story now – the Scientific Research and Experimental Development (SR&ED) tax credit program has been providing Canadian firms with some of the richest R&D incentives in the world for decades. That being said, due to some very common misconceptions, there are Read more…

May 29, 2014

Contingency Fees at Risk for Select Tax Credits

Just when you thought it was okay to stop and take a breath, the contingency fees issue forced itself to the top again. Although not directly related to SR&ED tax credits, this new development is worth keeping an eye on. Contingency Fees in Hot Water Earlier this month, Bill C-462 was introduced by MP Cheryl Read more…

April 24, 2014

BeneFACT Company Spotlight – Chris McNeill

BeneFACT Company Spotlight – Chris McNeill Client Executive SR&ED is not just a provincial endeavor – companies across Canada can benefit from this lucrative tax credit program that offers over $3 billion a year to companies involved in R&D activities. At BeneFACT, we take great pride in our team of experts from our technical consultants Read more…

April 10, 2014

Full Time vs. Contract Consultants in SR&ED

As the SR&ED community continues to expand, so does the types of roles those working on a claim take on. When looking at hiring a consultant to put together your company’s SR&ED claim, there are basically two types of SR&ED consultants to choose from; contract or full time. Contract SR&ED Consultants There are MANY SR&ED Read more…

March 27, 2014

The Importance of Good SR&ED Health

Just like taking care of your nutritional health, your SR&ED health needs attention, too! Having an organized SR&ED claim with documents from beginning to end may mean a bigger benefit when the return comes in. One of the best ways to make sure you’re getting the most from your claim is with a simple SR&ED Read more…

March 20, 2014

SR&ED Deadline Fast Approaching – Are You Ready?

Procrastinators take heed: In the world of SR&ED, the early bird really does get the worm. One of the big deadlines for submitting a company’s SR&ED tax claim is fast approaching; June 30th, 2014 is the magic date! If a company has a fiscal year-end of December 31st, 2012, all paperwork MUST be in to Read more…

March 13, 2014

BeneFACT Company Spotlight – Mohamed Parpia

BeneFACT Company Spotlight – Mohamed Parpia Technical Consultant, Manufacturing We’re proud that the BeneFACT Company roster includes some of the best and brightest stars in the SR&ED field, so we thought it was time to introduce some of them to the community! Throughout the next few months, we’ll put the spotlight on some of the Read more…

March 7, 2014

Possible Precedent Set in SR&ED Appeal Case

One of the court cases on the minds of SR&ED professionals across the country is that of Fio Corporation v. the Queen. This particular court case involves the appeal of a SR&ED claim decision. During an ongoing appeal of Fio’s 2007 and 2008 claims, the CRA used evidence it collected and further reduced the prior Read more…

February 28, 2014

BC Provincial Credits Extended for Companies Involved in R&D

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 Read more…

February 21, 2014

Tips for a Smooth SR&ED Tax Claim Review from the BeneFACT Team

In most cases, a SR&ED tax claim (also seen as “SRED”), will go through seamlessly. However, there are cases where CRA may have questions about particular elements of the claim, or the projects involved. This can lead to a SR&ED claim review. A review may sound scary and dramatic but, if you are prepared, it’s Read more…

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