AMIS – Ontario’s Advanced Manufacturing Investment Strategy
Lines of credit have almost completely dried up in this recession, and it’s harder than ever for businesses to fund their new development projects. Ontario’s Advanced Manufacturing Investment Strategy (AMIS) is a great venue for Ontario manufacturers to pursue. What’s more, AMIS is available to companies from all manufacturing sectors in Ontario. The $500 million […]
Ontario Provincial 2009 Budget
The proposed 2009 Ontario provincial budget, released March 26th, 2009, puts forward new tax measures intended to build on the government’s “5 point” economic plan. Understandably there is much controversy about the spending plans, and many Ontarians are expressing concern over the Sales Tax Harmonization, and how it will affect the individual. On a positive […]
EI and Bankruptcy Filings Dramatically Increasing
The number of Canadians filing for bankruptcy and unemployment benefits rose significantly in January, according to new numbers released Tuesday by The Office of the Superintendent of Bankruptcy Canada. More than 117,000 Canadians filed for bankruptcy over the period of twelve months ending January 2009. This denotes an increase of 15.8 % from the previous […]
SR&ED – Essential To Canadian Manufacturers
The current economic recession has proven to hit even harder than many economists anticipated. An estimated 129,000 Canadians lost their jobs in January alone, of which Statistics Canada reports that Ontario workers lost a staggering 71,000. Alberta, once a thriving, profitable province, is even feeling the blow, having recently announced another 15,000 jobs lost. Forecasters […]
CRA Reviews: Ensuring Claim Approval
In 2008, quite a number of changes took place regarding the SR&ED program. For one, the CRA hired a slew of auditors for SR&ED, increasing the likelihood that a technical and financial reviews will take place, no matter how solid the claim. For some businesses, especially first time claimants, this has proved to be daunting […]
Look For Alternative Forms of Financing
The cost of borrowing money just went up. Unlike their US counterparts, Canadian banks that held positions in high-risk US mortgages will likely not receive a bail-out package. The net impact of the mortgage crisis is that Canadian banks will have to increase their lending rates to make up for their losses. This is a […]