The emphasis on scientific development and experimental development, or simply SR&ED, in Canada can be seen in two levels. Not only the federal government in Canada promotes SR&ED, the provincial as well as the territorial government are also encouraging it. The federal SR&ED program and the provincial tax credit programs together form a solid platform to initiate R&D. These two … [Read more...] about SR&ED Tax Credits for Canadian Provinces
Tax Credit
10 Tips When Filing SR&ED Tax Refund
How much do you know about the SR&ED tax refund? Have you submitted your claims for Canada’s Research & Development tax credit program? Or, you are not sure whether to submit because you have heard all kinds of hearsay about the SR&ED tax refund. SR&ED, or Scientific Research and Experimental Development, is a program that supports research and development in Canada. The SR&ED … [Read more...] about 10 Tips When Filing SR&ED Tax Refund
SR&ED Tax Credits for Life Sciences and BioTechnology Industries
Numerous research and development projects are conducted by companies in the fields of Life Sciences and Biotechnology. Majority of such projects would qualify for SR&ED tax credits. The qualified projects usually involve laboratory testing and experimentations, subjective testing, and data analyses which may require extensive labour hours and examination of chemicals or processes. There are … [Read more...] about SR&ED Tax Credits for Life Sciences and BioTechnology Industries
Government Funds for Tool & Die Machine Shops
Tool and Die shops are subject to constant technological challenges or obstacles to meet their clients needs. The challenges that involve experimentations and trials would qualify for SR&ED tax credits. Typical examples of eligible SR&ED work for tool and die machine shops include: Develop a complex die for stamping or punching miniaturized parts Design a complex mould for injection of … [Read more...] about Government Funds for Tool & Die Machine Shops
New Funding Assessment Tools Are Now Available From CRA
As part of Canada Revenue Agency (CRA) effort for educating and assisting small to mid-sized businesses for Scientific Research and Experimental Development (SR&ED) incentive program, CRA released two new tools namely Self-Assessment Learning Tool (SALT) and the First-Time Claimant Advisory Service (FTCAS). Read the following release for more detailed information: The Canada Revenue Agency … [Read more...] about New Funding Assessment Tools Are Now Available From CRA
$4b Funding Budget Reduced to $3b Within Two Years
Since 2012 The CRA started introducing a number of mandatory changes to the SR&ED program. This resulted in significant drop of SR&ED budget from approximate $4b in 2012 down to $3.6b in 2014. The key changes include: In 2012, The budget announced new funding of $6M over two years for the CRA to implement changes to the administration of the SR&ED program which includes: -Conduct a … [Read more...] about $4b Funding Budget Reduced to $3b Within Two Years