5 Common SR&ED Tax Credit Myths which Could Cost you Money

Every year, over 20,000 Canadian-controlled private corporations, partnerships, and sole proprietorships receive in excess of $4 Billion CDN from the SR&ED tax credit program. Yet, despite that, many people still resist participating in the SR&ED program. Among some of the more common excuses we hear… “I’m too busy.” “I’ve got too many things on my…

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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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CATA Reaffirms Support For Impartially Administered Innovation Incentives

To ring in the new year, the key Canadian industry association CATAAlliance (Canadian Advanced Technology Alliance, or CATA) reaffirmed its support for Canadian innovation by calling on the Federal government to bolster existing tax-based innovation incentive programs. Their release constitutes an update of policy positions. They argue that it is more important to fix systems…

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Changes to SR&ED Tax Credit in 2019 Federal Budget Enables Increased Investment in Innovation

What is SR&ED? Canada’s Scientific Research and Experimental Development (SR&ED) tax credit incentive program provides more than $3 billion in tax incentives to over 20,000 claimants annually. It is the single largest federal program that supports business research and development (R&D) in Canada. SR&ED provides small and medium-sized CCPCs (Canadian controlled public corporations) with an…

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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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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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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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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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Debunking Common Myths About SR&ED

Scientific Research & Experimental Development (SR&ED) tax credits can be a valuable financial tool for businesses engaged in research and development (R&D). However, misconceptions surrounding this program may result in businesses losing out on real money. Let’s debunk some of these common SR&ED myths.   SR&ED Myth #1: The SR&ED Tax Credit Program doesn’t really…

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Digging For SR&ED Gold: What Your SR&ED Consultant Really Needs to Know

Product developers and engineers tend to utilize a specialized vocabulary related to their industry processes. This vernacular, while varying across industries, is universally understood and forms the background jargon for the work. However, these common industry phrases can be quite different from SR&ED concepts, and not realizing the kinds of information your SRED Unlimited consultant…

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Digging for SRED Gold: The Informational Nuggets your SRED Consultant is Looking for

Product developers and engineers tend to have a certain vocabulary or frame of reference when it comes to their product development processes, which can vary slightly from industry to industry. These terms or concepts are commonly understood and form the background jargon for the work. However, these common industry phrases can be quite different from…

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Enhanced Incentives for Businesses Conducting SR&ED in Ontario

The Ontario government’s 2018 budget included increased provincial funding through the Scientific Research & Experimental Development (SR&ED) tax incentive program. This increased funding is aimed at helping businesses engaged in scientific research and experimental development in Ontario drastically reduce costs associated with research and development, and consequently grow their business. Ontario’s SR&ED tax incentive program…

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F is for Failure but Positive for SRED

Companies are typically not in the habit of rewarding employees for failing. In fact, whole teams of people can lose their jobs over a failed project. However, failure during the scientific research and experimental development process of your company’s work is extremely useful for your SRED claim. From the SR&ED tax credit perspective, failure means…

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Featured Client Profile: Beary Berry Honey Inc.

Bees are nature’s original innovators – turning flower nectar and pollen into “liquid gold.” Rich in antioxidants and amino acids, honey has been revered as a very special and unique food product for centuries.   Sandra Thiessen from Beary Berry Honey Inc. in Alberta knows how special honey truly is. Beary Berry is a family-owned apiary…

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Featured Client Profile: Novah Healthcare

Chronic pain is often cited as one of the worst challenges a person may encounter in life. To everyone else, you look “normal”, but little does everyone know the struggle you face to accomplish everyday activities through incapacitating pain. Many current diagnostic tests may not be able to isolate a specific cause. Rarely does anyone…

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Getting Back On Track With SR&ED

Now more than ever the CRA is cracking down on SR&ED claims. Even if you haven’t done anything wrong, they’re making it more difficult to claim SR&ED refunds and credits. To SR&ED applicants, the rules seem convoluted, vague, a cloud of grey zone uncertainty. Being one of those companies whose claim has been reduced or completely disqualified is pretty frustrating, and…

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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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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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How Doctors Benefit From SR&ED Tax Credits

There are many doctors and medical companies, including clients of SR&ED Unlimited, that have successfully made Scientific Research and Experimental Development (SR&ED) claims and received credits or refunds as part of this tax incentive program. Though the CRA always seems to be tightening up (or making more confusing) the criteria for what SR&ED claims they…

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