Upcoming Changes to the SR&ED Program
A press release has been issued about some upcoming changes to the SR&ED program. A few points mentioned by Minister Blackburn today, while addressing the 13th Annual Tax Practitioner Information Session, relate to upcoming changes to the SR&ED program: starting on April 1st, 2010, reviewers will be spending more time explaining the program (requirements, application […]
What about failed projects?
We often tell people that failed projects are embraced by the SRED program, and sometimes it can be a little hard to understand exactly why. I mean, isn’t the program meant to promote innovation, and to encourage technological development? If so, then why are projects that don’t result in a more innovative product or process […]
What if you get other government grants and loans?
With the number of government grants, loans and other assistance available, we have frequently been asked whether companies can still file for the SR&ED program if they’re taking advantage of other assistance programs. There are so many different programs available: from IRAP, to small business grants, to funding that will help make things more energy […]
Different types of CRA Reviews
After you’ve filed your SR&ED claim, there is a bit of a waiting period before you will hear back from the CRA. When that waiting period is done, one of two things may happen – you may hear that your claim has been Accepted as Filed, or the CRA may ask to review your claim […]
R&D Tracking
There seems to be an endless amount of paperwork required to keep a successful business operating efficiently and effectively these days. With all of the different regulatory, industry association requirements and internal documents to deal with, adding another heap of tediousness might seem counterproductive. Northbridge clients know that Research & Development document control is one […]
Reader Question: Can NPOs Claim SR&ED?
We have had some people contact us with a question about whether non profit organizations (NPOs) can claim for the SR&ED program. The short answer is, unfortunately no. However – corporate clients or partners can. Why is this? The CRA states that only business and corporate tax-payers (including Canadian-controlled private corporations, public and foreign-owned companies) […]
5 Reasons why you need SR&ED for your Food Manufacturing Enterprise: A first person account
by: Arnold Strub, MBA. Entrepreneur-in-Residence, DeGroote School of Business, McMaster University. Strub’s Pickles had already been a successful small business for 75 years when we were first contacted by an SR&ED consultant. We had the usual skepticism about the program; SR&ED is limited to lab work (of which we had little), tracking projects would be […]
Why do you need an SR&ED Consultant?
Nortel is in the news again! A giant in the IT Industry and Canada’s one time largest employer have been force to sell off it’s assets due to bankruptcy. This time it is their wireless network infrastructure to Nokia Siemens Networks. IT is an industry ripe with innovation and Canada needs innovation in order to […]
Helping you capitalize on your innovation
Join us on July 9th for a complimentary breakfast seminar! Seminar will be held at Glen Abbey Golf Club – stay after our seminar for “Tips for a Golf Pro” on the driving range. Are you aware of how best to recover hundreds of thousands in lost expenditures from the federal SR&ED Tax Incentive Program? […]
Good Documentation in SR&ED Claims
Thorough documentation is a necessity when making an SR&ED claim. Good documentation proves to the CRA reviewers who are looking into your claim that you have done all the work to get through the technical obstacles that you claim to have done. The more documentation that you have, and the better quality it is, the […]