Shedding Light on the SR&ED Program
The Scientific Research and Experimental Development (SR&ED) program is one of the most lucrative incentive programs for companies working on technological development and product/process improvements. SR&ED can generate tax credits up to 68% on eligible labour costs. An analysis by the Canada Revenue Agency (CRA) showed that only 50% of eligible Ontario manufacturers have filed […]
CICP Relaunched as Build in Canada Innovation Program (BCIP) to Bridge Technology Gap Through Government Acquisitions
The Honourable Rona Ambrose announced that the Canadian Innovation Commercialization Program (CICP) has received permanent commitment under the new name Build in Canada Innovation Program (BCIP), which aims to bridge the technology gap between the R&D stage of projects and the pre-commercialization phase through government acquisitions. The announcement was made at the WesDef, western Canada’s […]
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 […]
Canada’s Performance in Innovation
Ottawa based think tank, The Conference Board, released a series of reports called “How Canada Performs: A Report Card on Canada,” which assesses Canada’s quality of life in comparison to other countries. Canada receives grades of “B” in the majority of the sections, and received a grade of “A” in the Education and Skills section. […]
Canadian Business Funding: A Toolkit For Business Owners
If you are running a small or medium-sized enterprise (SME), it can be difficult to obtain the financing required in order to innovate, grow your business, and hire skilled workers. Between all the banks, venture capitalists, and angel investors, one might think there would be plenty of funding to go around. However, this is not […]
Innovation Key to Canada’s Competitiveness Says GE Canada’s CEO
General Electric Canada’s President and CEO, Elyse Allan, spoke recently at the Economic Club of Canada about how process improvements and technology can help businesses mitigate the risk of doing business abroad. Allan stressed the need to expand in a global economy, and lauded he leadership role that the federal government is taking in their […]
SR&ED versus IRAP
Scientific Research and Experimental Development (SR&ED) and the Industrial Research Assistance Program (IRAP) are two of the largest government incentive programs in Canada. The chart below details some of the major differences between the 2 programs. Criteria Scientific Research and Experimental Development (SR&ED) Industrial Research Assistance Program (IRAP) Administration SR&ED is administered by the Canada […]
Legislative Proposals Contain Changes to SR&ED Proposed in 2012 Budget
The Canadian Department of Finance has drafted legislative proposals, released August 14, that include the following changes to the SR&ED program: 1. Removal of capital from the expenditure base (for capital expenditures incurred in 2014). Effective January 1, 2014, capital expenditures cannot be claimed. To be claimable for capital expenditures before 2014, the expenditure must […]
NorthBridge SR&ED Video
Check out NorthBridge’s latest informative video about the Scientific Research and Experimental Development (SR&ED) program!
NorthBridge Featured in Canadian Tooling & Machining Association Magazine
NorthBridge Consultants was featured in Canadian Tooling and Machining Association’s spring 2012 edition. The article, entitled “Strengthening your SR&ED Claims with Documentation,” emphasized the importance of contemporaneous project documentation and financial documentation requirements in order to adequately support a SR&ED claim. A well-supported, clear, and concise claim is often processed faster and is less likely to be scrutinized […]