How can you select and secure the right funding from the variety of Canadian options available without being a certified accountant or having a Master’s degree in business administration? This newly released book from Toronto-base funding expert Igor Chigrin can show you how. Any average business proprietor, executive, and employee can use this knowledge to explore…
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? …
DetailsSRED Unlimited is an exhibitor at The Canadian Manufacturing Technology Show (CMTS-2017) that will take place in Mississauga, Ontario,September 25-28, 2017. CMTS-2017 is Canada’s national stage for manufacturing technologies, best practices and industry connections. http://cmts.ca/ Visit our booth #3620.
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.…
DetailsVisit us at OCE Discovery 2017 – Look for Booth #706 (May 15/16, Metro Toronto Convention Centre, Toronto, Ontario)
While the SR&ED claiming guidelines can sometimes seem nebulous, there are some clear truths we can draw from it. One is that there are options that work better based on the size of your company. Some options work better for bigger companies, and others for smaller companies. A great example of this is the decision…
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…
DetailsTo ring in the new year, the key Canadian industry association CATAAlliance (Canadian Advanced Technology Alliance, or CATA) reaffirmed its support for Canadian innovation by calling on the Federal government to bolster existing tax-based innovation incentive programs. Their release constitutes an update of policy positions. They argue that it is more important to fix systems…
DetailsVisit us at Advanced Manufacturing Canada Conference & Exhibition – Look for Booth #200 (November 2-3, 2016, Toronto Congress Centre, Toronto, Ontario) Advanced Manufacturing Canada (AMC) offers the Canadian manufacturing community a two-day conference and exhibition focused on fostering a national dialogue about how manufacturers can leverage Advanced Manufacturing to stimulate innovation, increase productivity, and…
DetailsThe CRA has announced updates to the guidelines for resolving claimants’ SR&ED concerns. They say they used stakeholder feedback to come up with the changes in a way that would streamline the administrative review process’ “timeliness and consistency”. Here’s the exact text of their overview of the changes: Reason for revision The changes made to…
DetailsThere are many doctors and medical companies, including clients of SR&ED Unlimited, that have successfully made Scientific Research and Experimental Development (SR&ED) claims and received credits or refunds as part of this tax incentive program. Though the CRA always seems to be tightening up (or making more confusing) the criteria for what SR&ED claims they…
DetailsNow more than ever the CRA is cracking down on SR&ED claims. Even if you haven’t done anything wrong, they’re making it more difficult to claim SR&ED refunds and credits. To SR&ED applicants, the rules seem convoluted, vague, a cloud of grey zone uncertainty. Being one of those companies whose claim has been reduced or completely disqualified is pretty frustrating, and…
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Look for Booth #504 (May 9-10, 2016, Metro Toronto Convention Centre, Toronto
By Dmitry Brusilovsky, CEO, SRED Unlimited Recently, the CRA yet again changed their SR&ED procedures. Fortunately, the eligibility criteria remains intact: there’s no difference in what qualifies as SR&ED. However, what they’ve done is clarified how they evaluate claims. Hopefully, this will make for a less confusing process from a claimant perspective. They’re most likely further emphasizing/renewing their focus on technical documentation.…
DetailsIn the evolution of a highly successful and process-driven SR&ED program, there are three stages: prospecting, mining, and diamond-cutting. I define these stages as follows: Prospecting Characterized by investigation and detection, i.e., go out and find it, bring it back, cash in (write up claim, submit, defend), repeat next year. Mining Characterized by organized processes…
DetailsOn February 25, the governing provincial Liberals announced the annual Ontario budget. With this budget comes a rate adjustment that will impact everybody who claims SR&ED tax credits, particularly for claims based in taxation years ending on or after June 1. Here are some of the highlights: 2% reduction in the Ontario Innovation Tax Credit…
DetailsIndustry Events: Canadian Innovation Exchange: Cleantech Game Changers (October 15, 2015, Toronto, ON) The Canadian Manufacturing and Technology Show (September 28-October 1, Mississauga, ON) North America Mining Expo (August 19-20, Sudbury, ON) Manufacturing Summit (June 23, Kitchener-Waterloo, ON) Design & Manufacturing Canada (June 16-18, Toronto, ON) Automotive Parts Manufacturers’ Association Annual Conference & Exhibition (June 3-4,…
DetailsClean Technology News and Resources Ontario’s Wind Energy Industry Generates 340 New Jobs OPA (the Ontario Power Authority) Releases FIT 2.0 Rules A new book launch – Kick the Fossil Fuel Habit: 10 Clean Technologies to Save Our World (Tom Rand) Growing Ontario’s Economy, Creating Clean Energy Jobs OCETA and XPV Capital Announce New Report to…
DetailsWe all tend to perceive an “innovation gap” between Canada and leading-edge tech countries, even after years of the SR&ED program which is intended to nurture Canada’s innovative growth. That might lead some to ask the question, does SR&ED really boost Canadian innovation? Where is the money going, and could it be better directed? A…
DetailsFor years, SR&ED claimants have been haunted by the concept of standard practice. They had to prove that what they did was not standard practice; often, they had to define what exactly standard practice was, and if that was gray-zone, then it could spell trouble for a claim under review. The trouble was, the CRA…
DetailsOn April 23, 2015, the Ontario Finance Minister presented the Provincial Budget. This budget included a renewal of funding for the Ontario Media Development Corporation’s Interactive Digital Media Fund. However, things will not quite be business as usual—there are some new restrictions, exclusions, and other tweaks to the rules that you should know about. New…
DetailsWhen the CRA traditionally takes on an adversarial role with claimants, it becomes easier for SR&ED consultants and their clients to feel encouraged when the Tax Court of Canada disagrees with a claim rejection, siding with the claimants who are making the appeal. However, we are still in the midst of an era where formal…
DetailsIn recent years, the CRA has come down ever harder on SR&ED claimants, appearing to tighten their internal definition of what’s claimable without making it crystal clear what would definitely qualify for SR&ED refunds. It is increasingly rare for an audited claim to end up accepted as filed. Interestingly, a Montreal-based manufacturing company facing similar…
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