Reading time: 5 minutes. The Scientific Research and Experimental Development (SR&ED) Tax Credit is one of the oldest and well sought-after credits provided by The Canada Revenue Agency (CRA) across Canada. With over 20,000 claims filed yearly valued at more than four billion dollars, the SR&ED Tax Credit is fundamental in creating jobs, building new facilities, … Read more
Reading time: 4 minutes The top reason to maximize your SR&ED loan is to reinvest that capital into R&D, sales, or marketing to take your company to the next level. By growing your company faster, you have a greater chance of beating the competition and becoming more profitable. The size of your SR&ED loan depends … Read more
Reading time: 5 minutes. SaaS (Software as a Service) firms are one of the fastest expanding parts of the global economy. They have transformed the way software companies sell today. Many of the most valuable tech companies in the world are SaaS companies because they have the potential to grow quickly with high gross margins. … Read more
With so many tax credit, grant, and cost recovery options available to companies, there has never been a more lucrative time to boost a company’s funding and financing. With support from R&D and digital media tax credits or grants in hiring, training, and capital expansion, companies can access a number of versatile programs to fit … Read more
A version of this article was first published on Betakit in March, 2021. In 2019, I wrote an article on how the CRA had become tougher on SR&ED claims despite the declining number of reviews. However, the latest data shows that the CRA has been working hard to support the tech community during the COVID-19 … Read more
Choosing the right SR&ED (Scientific Research & Experimental Development) consultant, getting the best price, getting the best service and having a successful relationship are keys to a successful claim. This guide will explain the areas to look for, questions to ask, and ways to evaluate a good fit. It will also walk you through what … Read more
Reading time: 3 minutes You should plan for a smaller SR&ED claim if you’re utilizing many of the government COVID-19 support programs. Since COVID-19 plagued the economy, the Canadian government has stepped in to help businesses cope with the economic impacts of the pandemic. Programs such as the Canada Emergency Wage Subsidy (CEWS), IRAP, Regional Relief … Read more
Reading time: 2 minutes Since the government announced the Canada Emergency Wage Subsidy (CEWS), questions on whether it will have an effect on the amount that can be claimed for SR&ED have arisen. As of today, it is unclear if CEWS will have no effect, little effect, or devastating effects on SR&ED claims. The Canadian … Read more
From our friends at The Ingenuity Group: The development of software is the subject of considerable debate at the CRA and, more generally, there is confusion about what does and does not qualify for SR&ED within this area. When applying for SRED tax credits the applicant must specify a field of science or technology using CRA specific codes. This … Read more
Reading time: 4 minutes. Hearing what leaders in Canada say about encouraging research and development, we should all think that Canada’s digital economy is rocketing along. Sadly, statistics on the number of SR&ED claims tell another story. The numbers show that the largest tax incentive program for R&D continues to decrease in popularity. In fact, … Read more