Funding Webinar- Optimizing Returns from Multiple Government Funding Sources
Domestic and international competition is forcing Canadian businesses to develop new or improved products, increase productivity and expand sales in global markets. Financing for innovation or growth has always been a challenge for many companies in Canada. Both the federal and provincial governments provide their financial support through over $20 billion in various funding programs […]
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 […]
Leveraging Hiring Grants and SR&ED Tax Credits
The Scientific Research & Experimental Development (SR&ED) tax credit program, administered by the Canada Revenue Agency, allows companies that engage in processes that result in new or improved product development to secure government funding to support their innovative work. The program provides tax credits on eligible labour, overhead, material, and subcontracting costs dependent on the […]
The 2015 Ontario Provincial Budget: Digital Media Review
In the 2015 Ontario Budget, published by the Ministry of Finance, the Government of Ontario announced a review of the Ontario Interactive Digital Medial Tax Credit program (OIDMTC). As a result of this review, the government has re-stated and re-emphasized the program to focus on interactive entertainment products, and on educational products for children under the […]
Northbridge in the Media
Check out our special report on changes to the SR&ED program in 2014 (published in Canadian Manufacturing) here.
The Importance of The Hypothesis in SR&ED Documentation
If you’ve submitted a SR&ED claim before, you’re likely quite familiar with the following questions: “Was there technological uncertainty?” “Did the process result in a scientific or technological advancement?” These criteria have been part and parcel of the SR&ED documentation process since its inception. However, more recently, additions have been made to SR&ED guidelines that […]
OIDMTC Supports Development of Interactive Digital Media in Ontario
The Ontario Interactive Digital Media Tax Credit (OIDMTC) is a refundable tax credit that supports the development of interactive digital media in Ontario. The tax credit funds 40% of eligible labour, marketing, and distribution costs. The maximum contribution per project is $100,000 for marketing and distribution costs, but the labour contribution is uncapped. In order […]
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 […]
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 […]
Ontario Research and Development Tax Credit
There’s still a lot of talk about what tax harmonization means for those conducting businesses in Ontario. (As a refresher – GST and PST will be combined into a new HST, which will result in businesses being charged slightly more for some purchases.) To compensate, the CRA has created the 4.5% Ontario Research and Development […]