The supporting documentation and evidences to defend SR&ED claims could be any of the followings: -Project planning documents -Documents on design of experiments -Experimentation plan -Design documents and technical drawings -Project records, laboratory notebooks -Design, system architecture and source code (software development) -Records of trial runs -Project progress reports -Photos, … [Read more...] about What documents and evidences would support SR&ED projects?
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Hurry Up! Seed Financing for New Start-Up Businesses is ending soon
Starting Nov 2013, Ontario Centres of Excellence (OCE) and Extreme Startups partnered to further accelerate the growth of the next generation of technology companies businesses in the area of digital media and Information and Communications Technology (ICT). This collaboration was established to jointly deliver business advisory services, education and seed financing to qualified SmartStart … [Read more...] about Hurry Up! Seed Financing for New Start-Up Businesses is ending soon
How to have a peace of mind when SR&ED claims are reviewed by CRA?
All SR&ED claims are risk assessed by CRA upon filing. As a result, three cases may happen: 1-Claims are accepted as filed 2-Claims are selected for a desk review 3-Claims may be selected for a more detailed technical and/or financial review. If the 3rd case happens, it means Research Technology Adviser (RTA) is not able to determine the eligibility of the work conducted by client. RTA will … [Read more...] about How to have a peace of mind when SR&ED claims are reviewed by CRA?
Up to $500k small business loans
Other than banks and financial institutions there are a number of funding programs available to Small Medium-sized Enterprises(SMEs) providing up to $500k small business loans with low or zero interests. Either you are at early stages of establishing your business or at final stages for commercializing your developed products you may qualify. Southern Ontario Fund for Investment in Innovation … [Read more...] about Up to $500k small business loans
Grants available to expand your business and take it to the next level
There are various grants available for small to medium size businesses in Canada to help starting or expanding your business. The business grants would be either from government or private sectors and will be delivered in the form of cash or tax credit. The available grants cover the following areas: Hiring and Training Initiatives Export Market Business Expansion Research and … [Read more...] about Grants available to expand your business and take it to the next level
How soon the government money will be in your business hands?
CRA's best effort is to deliver SR&ED grants in a timely, consistent, and predictable manner, while encouraging research and development (R&D) performers to prepare their claims in compliance with tax laws, policies, and procedures. There are four major processing categories determined by CRA in which aimed to be met 90% of the time: refundable claims – 120 calendar days from receipt of … [Read more...] about How soon the government money will be in your business hands?
New Changes to SR&ED Application Form commencing Oct. 2013
In October 2013, the Canada Revenue Agency (CRA) released a revised version of SR&ED Form for Scientific Research and Experimental Development (SR&ED) Expenditures Claim. The new form has been simplified to accommodate the legislative changes coming into effect on January 1, 2014. The new version of the form will consolidate former Sections B and C in Part 2 so that all claimants answer … [Read more...] about New Changes to SR&ED Application Form commencing Oct. 2013