CRA Service Standards for SR&ED Claims

The Scientific Research and Experimental Development (SR&ED) tax credit was developed to encourage companies to undertake research and development in Canada. But once you have submitted a claim for the tax credit, how long does it take to see the benefits of the program? The CRA has outlined their service standards for processing SR&ED claim […]

Rise in Canadian Manufacturing Sales for May 2013

StatsCan released their monthly survey results for May which examined sales within the Canadian manufacturing industry. Overall, manufacturing sales increased by 0.7% to $48.6 billion in May 2013. The below chart illustrates the monthly change in Canadian manufacturing sales since 2008. Out of 21 industries within the manufacturing sector, 57% of industries noticed an increase […]

Ontario Government Scraps Repeal of the Industrial Exception in Professional Engineers Act

We recently blogged about a press release by the Professional Engineers Ontario (PEO) indicating a repeal to the Professional Engineers Act to remove section 12(3)(a) – “Industrial Exception.” The removal of the “Industrial Exception” would mean that engineering work on equipment or machinery used to produce end products must be performed by an engineer that […]

The High Cost of Ontario Power Rates for Manufacturers Can Be Offset by Government Programs

Ontario’s high power rates could be a deterrent for companies to locate in the province. According to the Association of Major Power Consumers of Ontario, industrial customers within the province pay approximately $85 per megawatt hour, which is more than double in comparison to rates in Manitoba, Quebec and rates in Michigan, USA. This has been a major […]

Extension of Accelerated Capital Cost Allowance (ACCA) Provides Tax Relief for Manufacturers

The recent federal budget of 2013 highlighted several initiatives aimed at strengthening the competitiveness of the manufacturing sector. New sources of Canadian business funding and renewal of previous initiatives provides extra incentives for manufacturers to advance their business to the next level. One initiative that is especially beneficial for manufacturers is the renewal of the […]

Canada’s Performance in Innovation

Ottawa based think tank, The Conference Board, released a series of reports called “How Canada Performs: A Report Card on Canada,” which assesses Canada’s quality of life in comparison to other countries. Canada receives grades of “B” in the majority of the sections, and received a grade of “A” in the Education and Skills section. […]

Positive Signs for Canada’s Trade Deficit

Recent January numbers for Canada’s exports and imports indicated an overall drop in the country’s trade deficit. As reported by Statistics Canada, the trade deficit decreased from $332 million in December 2012 to $237 million in January 2013. Overall exports rose for the month of January to $39.1 billion. This was mainly driven by the […]

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