Linking Government Grants to SR&ED: Business Expansion
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. […]
Start-Up Companies and Government Funding
Start-up companies are a popular topic of conversation these days, especially in Southwestern Ontario. There are many resources for these new companies including government funding and tax credit programs. It is critical that these companies are made aware of programs and services that can help them reach their business objectives. The Scientific Research & Experimental […]
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. […]
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 […]
SR&ED and IRAP Funding Available to Assist Canadian Technology Startups
A recent PwC report found that Canadian start-up companies are looking more into building their business than into Mergers & Acquisition exits. Government funding provides significant assistance for Canadian technology start-ups, with 50% of start-ups surveyed applying for at least one source of funding, according to the report. Amongst these start-ups, 35% said they took […]
NorthBridge & EMC Canada team up for successful SR&ED review sessions
Earlier in June, NorthBridge paired up with Excellence in Manufacturing Consortium (EMC) Canada to host a series manufacturing seminar in Atlantic Canada. The information sessions focused on how to best prepare for a SR&ED review and create a “culture of SR&ED” within your company to maximize success with the program. EMC also posted an account […]
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 […]
R&D incentive programs across the globe
In light of proposed changes to the SR&ED program announced in March’s federal budget, Canada retains a position as offering one of the most attractive R&D incentive programs globally. Let’s look at a few R&D tax credit programs across the globe to see how SR&ED stacks up. Currently, Canada’s SR&ED program offers a 35-percent refundable […]
Reactions to The U.S. Bioeconomy Blueprint: Innovation and concerns loom on the horizon.
The 2012 U.S. National Bioeconomy Blueprint was announced on April 26th with the purpose of assessing strategic objectives to maximise on the U.S. bioeconomy potential and to highlight ongoing efforts to meet those objectives. However, many are concerned that the blueprint predominantly focuses on economic development while insufficiently addressing regulations to minimise social and environmental impact. The […]
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 […]