New Hiring Credit for Small Business (HCSB)
The HCSB is a one-time credit of up to $1,000 based on the increase in an employer’s employment insurance (EI) premiums paid for 2011 over those paid for 2010. This hiring credit will be available to employers whose total EI premiums were at or below $10,000 in 2010. Employers must file their 2011 T4 information […]
A Summary of Digital Tax Credits in Canada
Many provinces are jumping on board with new digital media tax incentives! Claiming for digital tax credits in conjunction with federal SRED will allow you to maximize your tax credits. As often is the case, the provinces all allow for digital tax credits to be claimed in conjunction with federal SR&ED, as long as the same […]
Ontario Interactive Digital Media Tax Credit
OIDMTC is a refundable digital media tax credit that can be filed in addition to SRED. Managed by the Ontario Media Development Corporation (OMDC), the OIDMTC allows up to 35% of eligible expenditures can be refunded to qualifying digital game corporations that incur a minimum of $1 million of Ontario labour costs over a 3-year […]
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 […]
Free SR&ED Seminar – Friday, March 6, 2009
On Friday, March 6th 2009, Northbridge Consultants will be holding another free breakfast seminar, to provide a useful information sessoin on the SR&ED program. The seminar will be held at the Waterloo Inn Conference Hotel. Details can be found at https://www.northbridgeconsultants.com/sr&ed-news-events.php For more information, email info@northbridgeconsultants.com or call us at (519) 623-2486.
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 […]
FREE SR&ED Breakfast Seminar
Hello Readers, On Thursday, January 29th, 2009 Northbridge Consultants will be holding our very first free breakfast seminar, to provide a meaningful information session on the SR&ED program. There will be a free, fully catered breakfast buffet, and the seminar is of no cost to attend. The primary focus will be to provide a complete, thorough […]
Proposed Changes to the SR&ED Program Will Make It Easier for Companies to File
During tough economic times, companies need to take advantage of internal sources of financing in order to survive. One source of financing, which few companies are aware of, are the tax credits you can receive from the federal government for R&D work conducted in the past 2 fiscal years. The Scientific Research and Experimental Development […]
Salary or Wages Performed Outside Canada Now Qualify for SR&ED
The Scientific Research and Experimental Development (SR&ED) tax incentive program awards up to a 35% tax credit on eligible research and development expenses. In the past, only labour performed within the geographical boundaries of Canada qualified for the SR&ED program. However, as a result of the 2008 Federal Budget, claimants can now earn SR&ED investment tax […]