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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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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Welcome to SR&ED Spring Training 2023! Lots of things are happening in the world of sports, right now ﹘ the NHL regular season is winding down and heading toward the trade deadline, March Madness in NCAA basketball is about to start, we’re halfway through the NBA regular season, and the World Baseball Classic is…
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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…
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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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The food and beverage industry, which encompasses everything from restaurants to bakeries, breweries, distilleries, and soft beverage producers, to commercial kitchens and food producers, is an exciting, diverse, and highly innovative industry. For companies in this space, claiming SR&ED tax credits presents a unique opportunity. Many do not consider filing SR&ED for food and beverage…
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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…
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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…
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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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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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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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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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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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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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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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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 claims encompass more than just lab work, reports, and research – in fact, improvements to products, new processes, analytics, and testing all fall under the blanket of SR&ED and can be claimed for tax credits. One of the most sought-after sectors eligible for SR&ED claims is the ever-developing cannabis industry. Since it’s still…
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…
DetailsMany businesses have a difficult time trying think of their R&D projects in terms of SR&ED. One of the toughest parts of a SRED consultant’s job is explaining the program and trying to get the people they talk to think “SRED-ily”. SRED Tax Credits 101 The simplest way to describe it is SRED is not…
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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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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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