One of the eligible expenses when claiming R&D Tax Credits, is contract expenditure. Arm’s Length contractors and Non-Arm’s Length contractors have basic difference in Scientific Research and Experimental Development (SR&ED) projects. It is important to know the difference between both types of contractors to eliminate any confusion. SR&ED Arm’s Length Contractors Arm’s Length … [Read more...] about SR&ED: Arm’s Length vs. Non-Arm’s Length Contractors
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How to Receive Tax Credit and Tax Refund for R&D in Green Technologies?
SR&ED Tax Credit and tax refund has been enjoyed by various types of enterprises ranging from Automotive to biotech and agricultural industries. Green Technology companies deserve larger ratio of Tax Credit and Tax Refund as they are working to make environment eco-friendly. When it comes to company eligibility, Green technologies always get priority. But at the same time, Green technologies … [Read more...] about How to Receive Tax Credit and Tax Refund for R&D in Green Technologies?
IRAP Funding or SR&ED Program?
Canadian Federal government offers two incentive programs to facilitate companies to enhance research and development; the Industrial Research Assistance Program (IRAP Funding) and the Scientific Research and Experimental Development (SR&ED). Both programs are designed to help businesses conduct research and development to increase economic growth. Although both programs share the same goals, … [Read more...] about IRAP Funding or SR&ED Program?
Tax Credits and Research Grants for Farming, Agriculture and Food Industries
Farming, Agriculture, and Food Industries need advancement in research and development with increased pressure of population. That is why government is encouraging the companies working in Farming , Agriculture and Food by providing R&D funding and research grants. Common eligible project examples for research grants in Agriculture and Farming industries are: Environment-friendly … [Read more...] about Tax Credits and Research Grants for Farming, Agriculture and Food Industries
SR&ED Tax Credits, Clean Technologies, Renewable Energies
Canada is leading the whole globe in clean technologies and renewable energies with 100 clean energy technology companies currently working to make this world a better place to live. With focus on energy efficient solutions, clean technology initiatives work environmentally-conscious and low-carbon solutions. SR&ED are tax incentives which encourage clean technology and renewable … [Read more...] about SR&ED Tax Credits, Clean Technologies, Renewable Energies
SR&ED Tax Credits and Importance of Supporting Evidences
The objective of SR&ED Tax Credits (Scientific Research and Experimental Development) program aims at encouraging research and development in Canada. The initiative of SRED is further motivated by the provision to make claims for expenses on eligible research and development work or project done in Canada. The submission of the claims is done using the T661 form. Canada Revenue Agency (CRA), … [Read more...] about SR&ED Tax Credits and Importance of Supporting Evidences
SR&ED Tax Rebate for Oil and Gas Industries
The SR&ED Tax Rebate (Scientific Research and Experimental Development) for oil and gas sectors in Canada is evident of the importance of this huge industry to the nation. The Canadian Federal Government wants producers and service providers to benefit from the SR&ED Tax Rebate. Unfortunately, many manufacturers and service providers in the oil and gas industry have been slow and reluctant … [Read more...] about SR&ED Tax Rebate for Oil and Gas Industries