The Innovation Mindset: Driving Businesses Forward

Innovation is Creativity in Action   Innovation is often used synonymously with creativity and ingenuity. Creativity is what drives businesses forward. It’s what inspired the opening of a business in the first place. But creativity and innovation don’t just stop once the doors are open. Businesses must continue innovating and fostering unique ideas to remain…

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SR&ED is for Non-Technical Companies, too!

Innovation is essential to every business- large or small! If your business could get paid to innovate, what doors would that open for you?   It is possible to receive funding for new and innovative ideas. Even if your original objective was not achieved, any Canadian-controlled private corporation (CCPC) may have SR&ED-eligible projects!   The…

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New Tool to Compile SR&ED Tax Credit Supporting Documentation

In every business, it is critical that the right value of research and development tax credits are claimed and that innovation as part of a business process is not missed.     Hence the founding of Scientifically Advanced Business Intelligence Inc. (SABI.ai), the creator of Serenity, the utility for capturing real-time data on your R&D investments. …

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Cybersecurity Part 2

Demystifying Encryption: What It Does and How It Works   Jason Coyne, SR&ED Technical Writer specializing in technology, science, and safety.   To mark this October’s Cybersecurity Month, we are providing a short guide to cybersecurity and cyberattacks. But, of course, every month is cybersecurity month. It is important to remain vigilant about protecting your…

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Cybersecurity – Part 1

Cyberattacks: What They Are and What to Do About Them Jason Coyne, SR&ED Technical Writer specializing in technology, science, and safety. To mark this October’s Cybersecurity Month, we are providing a short guide to cybersecurity and cyberattacks. But, of course, every month is cybersecurity month. It is important to remain vigilant about protecting your systems…

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CRA Issues Cautionary Statement to Businesses Using Third-Party SRED-Claiming Services

The CRA recently released a warning to companies who’ve been approached by third parties to prepare and submit an SR&ED claim on their behalf. Choose Your SR&ED Consultant Wisely   It goes without saying that not all SR&ED consultants are the same. In their release, the CRA has stated that they’ve received claims “containing false…

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SR&ED For Accountants 101

As a seasoned accountant, you are no stranger to the rules and procedures set out by the Canada Revenue Agency, especially around SR&ED tax incentives, which can be complicated and sometimes even confusing.   The federal Scientific Research & Experimental Development (SR&ED) program is the largest R&D incentive program in Canada. SR&ED tax credits could…

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Grow Up Cannabis Conference 2022

SRED Unlimited Consultant David Reti attended the recent Grow Up Cannabis Conference in Niagara Falls, Ontario.  “What struck me most, was how few companies knew about the SR&ED program, despite being eligible for some significant refunds.”   The two-day conference was held at the Niagara Falls Conference Centre and featured keynote speaker Dr. David (Dedi)…

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New Guidelines On The Eligibility Of Work For SR&ED Tax Incentives

The Canada Revenue Agency (CRA) recently replaced the wording of its Eligibility of Work for SR&ED Investment Tax Credits Policy with new guidelines on the Eligibility of Work for SR&ED Tax Incentives. These changes bring up several questions for Canadian businesses: What does this change mean for Canadian corporations applying for SRED? Does this change…

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SR&ED Spring Training: SR&ED Tax Credits for “Bench” Employee Hours

Welcome to SRED Tax Credit Spring Training 2022 Perhaps one of the most anticipated events on the sports calendar every year is the start of Spring Training in Major League Baseball. It’s an opportunity for all team members to establish good working habits for the coming regular season, a season that for two teams will…

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SRED SR&ED tax refund Canada

Introduction to Canada’s SRED Tax Credit/Refund Program

Introduction to Canada’s SRED Tax Credit/Refund Program SR&ED stands for Scientific Research and Experimental Development. The SR&ED tax credit program is available to companies operating in Canada that invest and engage in experimental development in Canada. Every year, the CRA issues in excess of $4 Billion CDN through the SR&ED tax credit program.  Will my…

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What can First-time SR&ED Tax Credit Claimants Expect

What is an FTCAS: First-time claimant advisory service? The first-time claimant advisory service (FTCAS) is a free, mandatory service conducted either via video or teleconference. During this meeting, first-time scientific research and experimental development (SR&ED) claimants can meet with local Canada Revenue Agency (CRA) SR&ED staff to learn more about the SR&ED Program. If you are a first-time SR&ED claimant selected…

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Alberta SR&ED Program Replaced by Innovation Employment Grant (IEG)

As of January 1st, 2020, Alberta cancelled the provincial Scientific Research and Experimental Development (SR&ED) tax credit. Instead, as of January 1, 2021, Canadian-controlled private corporations who conduct R&D in Alberta with eligible expenses are able to apply for the Innovation Employment Grant (IEG). The IEG is meant to work hand-in-hand with the Job Creation…

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Covid Help for Ontario Small Businesses

[Article contents summarized from the media release in the link indicated below] The Province of Ontario is providing eligible Ontario Small Businesses that have been impacted by the province-wide shutdown up to $20,000. Eligible small businesses that have been required to close or significantly restrict services because of the province-wide shutdown might be eligible to…

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SRED 101: Company Project vs. SR&ED Project – Confused?

One of the most challenging questions your SR&ED Unlimited consultant will answer during their consultation with you is the difference between a company project and a project that might qualify for the Scientific Research and Experimental Development tax credit or refund for your corporation. It’s a challenging question to answer because so much of a…

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How COVID-19 Help for Businesses can affect SR&ED claims

Over the last several weeks, the Federal and Provincial governments have launched several incentive programs—Emergency Wage Subsidy (CEWS), Innovation Assistance Program (IRAP), Regional Relief Recovery Fund (Ontario). A full list of available assistance can be found here. This is good news for Canadian businesses. However, it does raise the legitimate question about how receiving such…

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SR&ED Tax Credits Could Ease COVID19 Burden on Small Businesses

The year 2020 has been dubbed the year of perfect vision. It’s pretty safe to say no one ever envisioned COVID-19 becoming the story of the year the way it has. Whatever our individual opinions and feelings and fears about this situation, and the impact social isolation has had on our lives, Canada’s SR&ED tax…

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