In 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…
DetailsPrior to the release of Federal Budget 2018, there were fears that Finance Minister Bill Morneau would announce measures to limit loss carryovers or SR&ED tax credits. This did not turn out to be the case. But, as with most things, there were good news and bad news takeaways for businesses. Some of these are…
DetailsAvailable SRED credits differ whether you are a Canadian Controlled Private Corporation or a foreign company (Non-CCPC). These credits fall into one of two categories: refundable and non-refundable. If your company is eligible for a refundable tax credit, you will receive money back. If your company is eligible for a non-refundable tax credit, you will…
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…
DetailsAs the second decade of the 21st century gradually approaches its end, we find the SR&ED program’s payout funds trending in a different direction than ten years ago. Where was the trend going, and where is it today? What has happened in the CRA and the government that led to such a stunning reversal? …
DetailsTwo key criteria for SR&ED eligibility are the presence of Technological Uncertainties and Technological Advancements. When faced with the former, a company presses on in hope of the latter. But that definition is very relative, short, and not terribly comprehensive, so let’s explore more exact definitions of the meaning of Technological Uncertainties and Technological Advancements.…
DetailsWhile the SR&ED claiming guidelines can sometimes seem nebulous, there are some clear truths we can draw from it. One is that there are options that work better based on the size of your company. Some options work better for bigger companies, and others for smaller companies. A great example of this is the decision…
DetailsIn the SR&ED world, exhaustive systematic experimentation is usually the bread and butter. It takes up lots of claimable employee hours, and it uses up real-world resources that will never be commercially sold. Provided technological uncertainty can be established and great records are kept, you have yourself a claim. But what happens when companies have…
DetailsTo 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…
DetailsThe CRA has announced updates to the guidelines for resolving claimants’ SR&ED concerns. They say they used stakeholder feedback to come up with the changes in a way that would streamline the administrative review process’ “timeliness and consistency”. Here’s the exact text of their overview of the changes: Reason for revision The changes made to…
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…
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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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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