RONA Rejects $1.76 Billion Unsolicited Takeover Offer from US-Based Lowe’s
Rona Inc. received and rejected a $1.76-billion unsolicited takeover offer ($14.50/share) from US-based Lowe’s Companies, causing its share price to soar 20% to $14.19 in trading this Tuesday on the Toronto Stock Exchange. Rona disclosed this offer during a brief statement today, confirming months of speculation on a potential takeover. Rona’s board unanimously agreed that […]
NorthBridge SR&ED Video
Check out NorthBridge’s latest informative video about the Scientific Research and Experimental Development (SR&ED) program!
North Group of Companies’ Summer 2012 Newsletter
North Consulting Group has just released its Summer 2012 Newsletter. Topics covered include: Editor’s Welcome: The Invisible Hand of Innovation Federal Budget SR&ED Changes: Dollars and Cents Mergers & Acquisitions in the Food and Beverage Industry Despite Turbulent Economy, Canadian Companies Plan to Move Ahead with IPOs Are You Ready for Stormy Weather?
Revised SR&ED T661 Claim Form
In October of 2012, the Canada Revenue Agency (CRA) will be releasing a new Form T661(12), Scientific Research and Experimental Development (SR&ED) Expenditures Claim, to accommodate the legislative changes proposed in the March 2012 federal budget. These changes will begin taking effect commencing January 1, 2013. The new Form T661(12), revision code 1201, will be accepted […]
Canada’s Strong Manufacturing Performance
The RBC Purchasing Managers Index shows that Canadian factory orders rose in June, inching up to 54.8- its highest level since last September. The report found that both output and new orders rose strongly in June, even with the ongoing eurozone crisis’ dampening effects on the global economy. Manufacturing employment increased for the fifth successive month, […]
Canada Needs to Grow Through Innovation in Global Economy
In his recent article, Craig Alexander, the senior Vice President and chief economist for TD Bank Group, voiced his concern about Canada’s slow growth as it struggles with artifacts from the recent financial crisis, unsustainable fiscal balances, and aging populations. The Canadian government is actively seeking out global free-trade agreements, such as the Trans-Pacific Partnership, to […]
Study Finds Canada’s Interactive Digital Media Sector Suffers from Lack of Private Financing at Early Stages
According to a study by the Canadian Interactive Alliance (CIAIC), Canada’s interactive digital media sector has benefited from government assistance and public financing. However, gaps exist when it comes to the financial support of companies in early-stage development. Many Canadian startups look to the US to finance their growth, as their need for capital increases. To […]
Ownership and Its Impact on SR&ED- CCPC versus Public-Owned or Foreign-Owned Corporations
In the recent case “Price Waterhouse Coopers Inc., agissant ès qualité de syndic à la faillite de Bioartificial Gel Technologies (BAGTECH) Inc. v. The Queen,” the Tax Court of Canada ruled in favour of Bagtech that it qualified as a Canadian-controlled Private Corporation (CCPC). Even though more than 50% of Bagtech’s voting shares were owned by […]
Crowdfunding in Canada
Pebble’s Eric Migicovsky jump-started his company by selling 85,000 pre-sold watches and generating $10 million in advance revenue through Kickstarter. Unfortunately, Kickstarter isn’t readily accessible to Canadian companies. Migicovsky’s initial company was based in Waterloo (part of University of Waterloo’s Velocity incubator), and was bootstrapped by SR&ED tax credits. The opportunity to obtain financing was so […]
New Brunswick Seminar- How to Prepare for a SR&ED Review
NorthBridge will be offering a manufacturing seminar in Dieppe, New Brunswick (June 7th) entitled “How to Prepare for a SR&ED Review.” Synopsis: Under current economic conditions, SR&ED is more important than ever for manufacturers because it can increase a company’s cashflow. However, the CRA is now more thorough in their review process, and requires substantially more supporting documentation. This […]