On average, the CRA receives 20,000 claims a year from Canadian-controlled private corporations, partnerships, and sole proprietorships. And, again on average, the government will issue over $4 Billion CDN through the SRED tax credit program. A couple of the most common questions we get asked is “what makes a good SR&ED project” or “how can…
DetailsSince it’s the start of a new year, it seems the perfect time to talk about how to better detect when your R&D project has become a possible SR&ED project. The earlier in the process you identify this transition, the greater the opportunities to maximize your claim. Although, if you’re like most people, you likely…
DetailsMany highly hopeful researchers, developers, innovators and engineers confuse these two terms … technical uncertainty and technological uncertainty. We already tackled the confusion around technological uncertainty and system level uncertainty involved in the SR&ED process in our article Technological vs System Uncertainty in SR&ED Claims. SR&ED is About the Journey not the Destination One of…
Details
What is an FTCAS: First-time claimant advisory service? The first-time claimant advisory service (FTCAS) is a free, mandatory service conducted either via video or teleconference. During this meeting, first-time scientific research and experimental development (SR&ED) claimants can meet with local Canada Revenue Agency (CRA) SR&ED staff to learn more about the SR&ED Program. If you are a first-time SR&ED claimant selected…
DetailsA couple of the most common questions we get asked is “what makes a good SR&ED project” or “how can I make sure that our SR&ED claim gets approved”. There is never a guarantee that any SRED tax credit claim submitted will always be “accepted as filed”. However, if certain fundamentals of scientific research and…
DetailsThe Canada Revenue Agency (CRA) allows claimants under the Scientific Research & Experimental Development (SR&ED) tax incentive program to describe their SR&ED project work at a technological level, and with a technological focus because this is the level at which SR&ED work must be evaluated. Technological Innovation & New Knowledge The SR&ED program is meant…
DetailsOn March 31, 2015, Judge D’Auray from the Tax Court of Canada in Montreal rendered a ruling that set a precedent for what constitutes “uncertainty” under the CRA’s SR&ED tax credit guidelines. Her ruling also highlighted the role different levels of uncertainty can have on an assessor’s review of a case. Prior to Judge D’Auray’s…
DetailsSRED Unlimited will be attending the following events. Hope to see you there! Event #1: 2018 Joint Ontario-on-a-Chip and TOeP Symposium (Hosted by: University of Toronto) Date: Thurs, May 24 & Fri, May 25 Where: University of Toronto Event #2: 20th Annual Rotman Lifelong Learning Conference for Managers and Executives…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 4 – Four Fathers…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 3 – Rhythm and…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 2 – Mandioca Cheese…
DetailsSRED Unlimited Brewery Road Trip – August 2022 SRED Consultant David Reti “What I found most interesting was that every one of these businesses are using SR&ED refunds to help grow their business, but each of them is doing it in very different ways.” – David R. Part 1 – Merit Brewing…
DetailsAvailable SRED credits differ whether you are a Canadian Controlled Private Corporation or a foreign company (Non-CCPC). These credits fall into one of two categories: refundable and non-refundable. If your company is eligible for a refundable tax credit, you will receive money back. If your company is eligible for a non-refundable tax credit, you will…
DetailsOne of the most challenging questions your SR&ED Unlimited consultant will answer during their consultation with you is the difference between a company project and a project that might qualify for the Scientific Research and Experimental Development tax credit or refund for your corporation. It’s a challenging question to answer because so much of a…
DetailsAs the second decade of the 21st century gradually approaches its end, we find the SR&ED program’s payout funds trending in a different direction than ten years ago. Where was the trend going, and where is it today? What has happened in the CRA and the government that led to such a stunning reversal? …
DetailsTwo key criteria for SR&ED eligibility are the presence of Technological Uncertainties and Technological Advancements. When faced with the former, a company presses on in hope of the latter. But that definition is very relative, short, and not terribly comprehensive, so let’s explore more exact definitions of the meaning of Technological Uncertainties and Technological Advancements.…
DetailsThe year 2020 has been dubbed the year of perfect vision. It’s pretty safe to say no one ever envisioned COVID-19 becoming the story of the year the way it has. Whatever our individual opinions and feelings and fears about this situation, and the impact social isolation has had on our lives, Canada’s SR&ED tax…
Details
Welcome to SRED Tax Credit Spring Training 2022 Perhaps one of the most anticipated events on the sports calendar every year is the start of Spring Training in Major League Baseball. It’s an opportunity for all team members to establish good working habits for the coming regular season, a season that for two teams will…
DetailsWelcome to SRED Spring Training 2020 Lots of things are happening in the world of sport, right now. But perhaps one of the most anticipated events on the sports calendar is the start of Spring Training in Major League Baseball. Fans hope that their team will continue the successful run they had at the end…
DetailsPrior to the release of Federal Budget 2018, there were fears that Finance Minister Bill Morneau would announce measures to limit loss carryovers or SR&ED tax credits. This did not turn out to be the case. But, as with most things, there were good news and bad news takeaways for businesses. Some of these are…
Details
SR&ED claims encompass more than just lab work, reports, and research – in fact, improvements to products, new processes, analytics, and testing all fall under the blanket of SR&ED and can be claimed for tax credits. One of the most sought-after sectors eligible for SR&ED claims is the ever-developing cannabis industry. Since it’s still…
Details
As a seasoned accountant, you are no stranger to the rules and procedures set out by the Canada Revenue Agency, especially around SR&ED tax incentives, which can be complicated and sometimes even confusing. The federal Scientific Research & Experimental Development (SR&ED) program is the largest R&D incentive program in Canada. SR&ED tax credits could…
DetailsIn the SR&ED world, exhaustive systematic experimentation is usually the bread and butter. It takes up lots of claimable employee hours, and it uses up real-world resources that will never be commercially sold. Provided technological uncertainty can be established and great records are kept, you have yourself a claim. But what happens when companies have…
DetailsThe CRA pre-screens SR&ED claims, to decide which ones to audit, through computer screening, where artificial intelligence indicates projects for review based on red flags encountered via their predetermined set of risk management algorithms, or human assessment. Sometimes, claims are randomly selected for review. Since the computer and random options are automated, let’s look at…
Details