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)
Tax Credit
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
SR&ED: Arm’s Length vs. Non-Arm’s Length Contractors
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
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