In the intricate landscape of preparing Scientific Research and Experimental Development (SR&ED) claims, it’s not uncommon to encounter projects that seem too small, too insubstantial, or too lacking in support to warrant the effort and cost of including it in a claim. This perspective can inadvertently lead to missing opportunities with SR&ED potential. The real…
DetailsIn the 2018 Ontario Budget released in March, the Ontario Government announced proposed changes to the Small Beer Manufacturers’ Tax Credit. On Monday (Apr 9), Ontario’s Minister of Finance, Charles Sousa, highlighted some of those proposed changes and what they would mean for Ontario’s small breweries in a more practical way. What’s the Big Deal…
DetailsIt’s a new year and it helps to go into it with a clear head. If you can get past one common point of confusion, then your 2015 could turn out that much brighter. Common misconception: Accepted as filed = SR&ED-eligible work Since the process of claiming SR&ED appears labyrinthine and frustrating to the layperson,…
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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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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…
DetailsHow can you select and secure the right funding from the variety of Canadian options available without being a certified accountant or having a Master’s degree in business administration? This newly released book from Toronto-base funding expert Igor Chigrin can show you how. Any average business proprietor, executive, and employee can use this knowledge to explore…
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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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Canada’s biotechnology and life sciences industry is experiencing rapid growth and development, making it a global hub for scientific research and innovation. Canada’s biotechnology sector has recently gained international recognition for its unique strengths and capabilities and as a key player in the development of innovative solutions across healthcare, agriculture, and environmental challenges. Several…
DetailsWhat is an SR&ED Consultant? SR&ED stands for the Scientific Research and Experimental Development tax credit program, which is available to companies operating in Canada in a variety of industries who invest and engage in experimental development in Canada. Click here to see a list of some industries to which SRED might apply. Consultant is…
DetailsThere 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…
DetailsOver 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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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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DetailsNow 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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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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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…
DetailsCompanies 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…
DetailsThe 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…
DetailsProduct 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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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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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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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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