5 Common SR&ED Tax Credit Myths which Could Cost you Money Alberta SR&ED Program Replaced by Innovation Employment Grant (IEG) Can you Spot the Difference? From R&D to SR&ED? Canada Leads Other World Programs in SR&ED Incentives CATA Reaffirms Support For Impartially Administered Innovation Incentives Changes to SR&ED Tax Credit in 2019 Federal Budget Enables…
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On average, the CRA receives 20,000 claims a year from Canadian-controlled private corporations, partnerships, and sole proprietorships. And, again on average, the government will issue over $4 Billion CDN through the SRED tax credit program. A couple of the most common questions we get asked is “what makes a good SR&ED project” or “how can…
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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. …
DetailsSince it’s the start of a new year, it seems the perfect time to talk about how to better detect when your R&D project has become a possible SR&ED project. The earlier in the process you identify this transition, the greater the opportunities to maximize your claim. Although, if you’re like most people, you likely…
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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. …
DetailsMany 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 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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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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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…
DetailsA 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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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…
DetailsThe 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 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…
DetailsOn 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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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…
DetailsSRED 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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This year, the 2024 SRED Unlimited Brewery Tour visited some of our clients, new and old, in Toronto. Food, fun, and a fabulous Friday… it was a fantastic way to connect with clients and learn more about how the SR&ED program has helped their businesses innovate. Be sure to catch Part 1 and Part 2…
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This year, the 2024 SRED Unlimited Brewery Tour visited some of our clients new and old in Toronto. Food, fun and a fabulous Friday… it was a fantastic way to connect with clients and find out more about how the SR&ED program has helped their businesses innovate. Be sure to catch Part 1 here. Part…
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It was a sunny day in Toronto; a perfect day for hanging with friends and enjoying some fabulous beers around The Junction district! This year, the 2024 SRED Unlimited Brewery Tour visited some of our clients new and old in Toronto. And, in addition to myself (David), our “beergineer” John and the rest of the…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 4 – Four Fathers…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 3 – Rhythm and…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 2 – Mandioca Cheese…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 1 – Merit Brewing…
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