Why IRAP and SR&ED Can (and Should) Be Used Together

Canada’s research and technological innovation sectors are constantly growing and evolving—many times thanks to the accessibility of the funding opportunities offered by the Canadian government.   If you’re looking for ways to finance your business’s research and development projects or get your innovations to market, it’s time to take advantage of our government’s research initiatives. …

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What To Expect If Your SR&ED Claim Is Audited

The Forbidden Word: Audit   For many people, particularly those who deal directly with finances (whether business or personal), one of the scariest words in the English language is “audit”. It conjures images of a host of seemingly invasive and often confusing questions, and generating mounds of paperwork while taxing your financial reporting people.  …

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What Technical & Technological Uncertainty Mean in SR&ED

Many highly hopeful researchers, developers, innovators and engineers confuse these two terms … technical uncertainty and technological uncertainty. We already tackled the confusion around technological uncertainty and system level uncertainty involved in the SR&ED process in our article Technological vs System Uncertainty in SR&ED Claims. SR&ED is About the Journey not the Destination One of…

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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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Unlocking Innovation: How Non-Technology Companies May Qualify for SR&ED Tax Credits

The Scientific Research and Experimental Development (SR&ED) program is Canada’s largest federal tax incentive program, designed to encourage businesses of all sizes and in all sectors to undertake technological risks and to conduct research and development in Canada. However, many non-technology companies – breweries, wineries, distillers, food producers, cosmetic science often overlook their eligibility for…

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Tips for a Stress-Free Year End

Does the thought of finalizing your year-end fill you with dread? If sifting through piles of paperwork, updating spreadsheets, and tracking expenses make your blood run cold, we have some tips to help keep you on track and make your year-end run smoothly, regardless of when it is.   Best Practices   Technically, for the…

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The Sticky Business of Building a Strong SRED Tax Credit Claim

A couple of the most common questions we get asked is “what makes a good SR&ED project” or “how can I make sure that our SR&ED claim gets approved”. There is never a guarantee that any SRED tax credit claim submitted will always be “accepted as filed”. However, if certain fundamentals of scientific research and…

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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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The Hammer or the Nail: Which Comes First In SR&ED?

The Canada Revenue Agency (CRA) allows claimants under the Scientific Research & Experimental Development (SR&ED) tax incentive program to describe their SR&ED project work at a technological level, and with a technological focus  because this is the level at which SR&ED work must be evaluated. Technological Innovation & New Knowledge The SR&ED program is meant…

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The 5 Questions You Encounter in a SR&ED Interview

The Scientific Research & Experimental Development (SR&ED) program provides tax incentives to businesses engaged in research and development (R&D).   Central to what differentiates R&D from SR&ED is the focus on the concept of generating technological advancement and new knowledge through the R&D work conducted.   These details can often be buried in R&D descriptions…

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Technological vs System Uncertainty in SR&ED Claims

On March 31, 2015, Judge D’Auray from the Tax Court of Canada in Montreal rendered a ruling that set a precedent for what constitutes “uncertainty” under the CRA’s SR&ED tax credit guidelines. Her ruling also highlighted the role different levels of uncertainty can have on an assessor’s review of a case. Prior to Judge D’Auray’s…

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Taking Chances, Making Mistakes: SR&ED for Technology and Innovation

Canadian companies must innovate to remain competitive in a global market. Even with the economic challenges after Covid lockdowns, we can’t lose sight of driving innovation and Canada’s economy forward. We can’t afford to fall behind.     Canadian Innovation on the World Stage   When the World Intellectual Property Organization (WIPO) released the annual…

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SRED Unlimited On the Road

  SRED Unlimited will be attending the following events.   Hope to see you there!     Event #1: 2018 Joint Ontario-on-a-Chip and TOeP Symposium (Hosted by: University of Toronto) Date: Thurs, May 24 & Fri, May 25 Where: University of Toronto   Event #2: 20th Annual Rotman Lifelong Learning Conference for Managers and Executives…

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SRED Unlimited at the Grow Up Conference, Toronto

We are excited to announce that SRED Unlimited will be participating in the Grow Up Conference in Toronto, from May 27-29, 2024.   As Canada’s #1 cannabis conference, Grow Up focuses on cultivation, brands, and retail within the cannabis industry. Founded in 2017, it has established itself as a premier cannabis event dedicated to fostering…

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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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