Most countries around the world have some form of R&D tax credit program. In fact, more than 90 of the OECD’s top-performing countries have R&D tax credit programs including the U.S., China, the Netherlands, the UK, and France. These countries, as well as Canada, use OECD guidelines to define what constitutes industrial/business R&D: “Experimental development…
DetailsMany businesses have a difficult time trying think of their R&D projects in terms of SR&ED. One of the toughest parts of a SRED consultant’s job is explaining the program and trying to get the people they talk to think “SRED-ily”. SRED Tax Credits 101 The simplest way to describe it is SRED is not…
DetailsAs of January 1st, 2020, Alberta cancelled the provincial Scientific Research and Experimental Development (SR&ED) tax credit. Instead, as of January 1, 2021, Canadian-controlled private corporations who conduct R&D in Alberta with eligible expenses are able to apply for the Innovation Employment Grant (IEG). The IEG is meant to work hand-in-hand with the Job Creation…
DetailsEvery year, over 20,000 Canadian-controlled private corporations, partnerships, and sole proprietorships receive in excess of $4 Billion CDN from the SR&ED tax credit program. Yet, despite that, many people still resist participating in the SR&ED program. Among some of the more common excuses we hear… “I’m too busy.” “I’ve got too many things on my…
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