CRA’s SR&ED claim reviews are really inevitable. Every time you submit an SR&ED claim to the CRA, your claim maybe reviewed in a detailed manner to make sure that it meets the requirements of the program. Statistics show more than 25% of SR&ED claims are being reviewed since the CRA's recent changes have been adopted. CRA has Research and Technology Advisors(RTA) that are trained to … [Read more...] about Questions Asked During SR&ED Claim Review
SR&ED Audit
Everything You Should Know About CRA SR&ED Audit
Every time you have a SR&ED claim submitted, there will always be a chance that the Canada Revenue Agency(CRA) would demand to perform a review of that claim in a more detailed manner and guarantee that you have met the program’s requirements. When a project has been completed and a claim has been submitted, any organization might have to face some eligibility risk when one or multiple … [Read more...] about Everything You Should Know About CRA SR&ED Audit
Top 20 Risk Factors Should Know To Avoid SR&ED CRA Audit
SR&ED CRA Audit: It has seen regularly in the publications that the Government of Canada is concerned about the level of Research and Development investments that are made by companies. Hence the allowed expenditures on SR&ED by the type and size of firm, credits claimed and earned and the type of their activity facilitates a wider analysis. According to the Canadian Revenue Agency (CRA), … [Read more...] about Top 20 Risk Factors Should Know To Avoid SR&ED CRA Audit
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
Facts When Hiring a SR&ED Consultant
Hiring a SR&ED consultant is a serious matter because it concerns your SR&ED claim submission and tax refund. The consultant plays a critical role in making sure the SR&ED claim submission process is handled and managed properly without any undesirable consequences. Do not make the mistakes of finding out an unqualified and inexperienced consultant only after you have contracted the … [Read more...] about Facts When Hiring a SR&ED Consultant
$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