Summary of Provincial and Territorial R&D Tax Credits
The Canada Revenue Agency has recently released the most current summary of provincial and territorial R&D tax credits. Recent program developments by region include: Manitoba As of January 1, 2014, the definition of ‘eligible expenditures’ has been amended in line with the federal reduction in the prescribed proxy amount to 55%, and the reduction to […]
Upcoming Funding Seminar for the Agri-Food Sector
On Tuesday, June 16, 2015, from 1:00 p.m. to 2:30 p.m., NorthBridge Consultants and Excellence in Manufacturing Consortium (EMC) is hosting a free seminar in Mississauga, Ontario, to help companies in the agri-food sector better understand government funding programs and Scientific Research and Experimental Development (SR&ED) tax credits, and especially how multiple government funding programs […]
Linking Government Grants to SR&ED: Capital Equipment
The Canadian government spends approximately 24% of GDP on direct and indirect funding programs for businesses. Of that 24%, about 21% is available for indirect funding and 3% is available for direct funding. The indirect funding category is comprised of tax credit programs, while the direct funding category is comprised of repayable and non-repayable grants. […]
OECD Economic Survey: Research and Development Outlook in Canada
The Organisation for Economic Co-operation and Development (OECD) released the June 2012 results of the OECD Economic Surveys for Canada’s macro-economic state of affairs. The report indicates that the economy is picking up, with a positive outlook for continued moderate output growth and inflation. The OECD also cites innovation as a priority on the government’s […]
Renewable Energy Incentives: Accelerated Capital Cost Write-offs and Canadian Renewable and Conservation Expenses (CRCE) Program
There is an interesting tax incentive for the renewable energy industry which could compensate for the removal of capital from the SR&ED expenditure base: a category of deductible expenses for companies undertaking project development through the Canadian Renewable and Conservation Expenses (CRCE) program. At the moment, the CRA allows for accelerated capital cost write-offs on capital expenditures […]
The New Claim Review Manual
Along with the other changes that the CRA has been implementing over the past couple years, the Claim Review Manual has been updated. This is the manual that tells the CRA reviewers what processes they need to follow when reviewing an SR&ED claim. This review manual is meant to make the review process more consistent […]
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 […]
More for the case of SR&ED
As of June 27, 2006 the federal government announced it has put more on the case! The case of course is the SR&ED Tax Credit Program. Federal Budget Commitments have increased funding for the programs capacity and level of service to claimants. This is good news for claimants and consultants alike. There have been calls […]