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
Blog
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
SR&ED Tax Credits: Tips On Making a Claim
The Canada Revenue Agency (CRA) is investing for creation of start-up companies in Canada. As well, the CRA wants to give Canadian companies a leading edge when it comes to developing new technologies, materials and products. One of the ways that they have found to provide further incentive to entrepreneurs is through their SR&ED tax credits program (the T661 claim form). The program allows a … [Read more...] about SR&ED Tax Credits: Tips On Making a Claim
How to Maximize SR&ED Tax Refund
Research and Experimental Development (SR&ED) Tax Refund program provides incentive funds from over $3.6 billions to thousands of Canadian companies every year to encourage innovative and technological development in country. These incentives are either in the form of Tax Refund or/and Investment Tax Credits(ITC). Although small business reap 75% of SR&ED program fundings, but it requires … [Read more...] about How to Maximize SR&ED Tax Refund
Tips To Claim SR&ED Tax Incentives for Mould and Die Makers
Plastics industry conducts research and development to create innovative products that can meet technological requirements of market. The production of such products can easily attract Research Grants or SR&ED Tax Incentives. Similarly Mould and Die and other tools which can be sold after manufacturing certain products also fall in the category of SR&ED eligible projects. Examples of such … [Read more...] about Tips To Claim SR&ED Tax Incentives for Mould and Die Makers
Interactive Digital Media Tax Credit (OIDMTC)
Ontario Interactive Digital Media Tax Credit (OIDMTC) is a refundable tax credit provided by Federal Canadian government to eligible digital media production corporations. The Digital Media Tax Credit could refund up to 40% of your labor and marketing expenditures of corporations, regardless of their sizes and amount of eligible Ontario labor expenditures. Ontario Interactive Digital Media Tax … [Read more...] about Interactive Digital Media Tax Credit (OIDMTC)
Tips when Filing SR&ED Tax Incentives for Polymer and Plastic Industries
The Polymers and Plastics sector plays an important role in industrial and economical growth. There are numerous industries that dependent upon plastics sector such as electronics, automotive, construction, agriculture, food processing and packaging. This vital relation with other industries makes plastics industry leading eligible industry to claim innovation Tax incentives and Research … [Read more...] about Tips when Filing SR&ED Tax Incentives for Polymer and Plastic Industries