Hiring a contractor to work on your behalf on an R&D project is very common. Tax payers are willing to claim R&D Contract Expenditures so that they can take advantage of benefits through the R&D tax incentive program. SR&ED Contract Expenditure is usually performed in order to conduct basic research, applied research, experimental development, or support your project on your … [Read more...] about Facts About SR&ED Contract Expenditures
Everything You Should Know About CRA SR&ED Audit
Every time you have a SR&ED claim submitted, there will always be a chance that the Canada Revenue Agency(CRA) would demand to perform a review of that claim in a more detailed manner and guarantee that you have met the program’s requirements. When a project has been completed and a claim has been submitted, any organization might have to face some eligibility risk when one or multiple … [Read more...] about Everything You Should Know About CRA SR&ED Audit
Tax Relief for Construction and Real-Estate Businesses
Construction and real-estate is facing technological challenges today. Financial uncertainty and economic is now in doubt. Regulatory difficulties start to rise and there are always additional and unpredicted costs. There are customers who are demanding for more technological innovation including the originality, environmental design and value. This is both in final product and construction … [Read more...] about Tax Relief for Construction and Real-Estate Businesses
Top 20 Risk Factors Should Know To Avoid SR&ED CRA Audit
SR&ED CRA Audit: It has seen regularly in the publications that the Government of Canada is concerned about the level of Research and Development investments that are made by companies. Hence the allowed expenditures on SR&ED by the type and size of firm, credits claimed and earned and the type of their activity facilitates a wider analysis. According to the Canadian Revenue Agency (CRA), … [Read more...] about Top 20 Risk Factors Should Know To Avoid SR&ED CRA Audit
Calculation of R&D Tax Incentives
The Scientific Research & Experimental Development or SR&ED Tax Incentive program is a popular federal tax incentive program of the Canada Revenue Agency (CRA), which is used to encourage businesses in Canada, of all sizes and in every sector, to invest more in research & development (R&D). This incentive is the single largest source of federal government support for industrial … [Read more...] about Calculation of R&D Tax Incentives
SR&ED Claims: CRA Review Triggering Words
Strategic editing is necessary for tightening up SR&ED claims and lowering the overall CRA (Canada Revenue Agency) audit or review risk. Following are some trigger words that shall be removed from your project titles and technical narratives: Words to be avoided when writing SR&ED Claims: 1-Try and Error Trial and Error involves execution of number of tests in any order and not making it … [Read more...] about SR&ED Claims: CRA Review Triggering Words