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 key 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
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
Toronto, Ontario–( November 22, 2019) – Venbridge Ltd. (“Venbridge” or the “Company”) is thrilled to be among the winners of the Canadian Lenders Association (CLA) Top 25 Companies in Lending in 2019. As the voice of Canada’s lending ecosystem, the CLA works to advance and elevate all aspects of the industry including innovation, best practice, … 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
From our friends at The Ingenuity Group: SR&ED in Budget 2019, A Minor Change With A Major Impact A Surprising – and Significant – Change in SR&ED in the 2019 Budget A significant announcement has been made in relation to SR&ED: repealing the use of taxable income as a factor in determining a CCPC’s annual … Read more
From our friends at The Ingenuity Group: Last March, the Department of Finance Canada released its 2018 Report on Federal Tax Expenditures. In previous years, the projected figures of the federal government’s revenue being spent on the SR&ED tax credit had been declining. What does this year’s report say? If you compare the Report on … Read more
Reading time: 3 Minutes Since 2015, the number of SR&ED claimant reviews conducted by the Canada Revenue Agency (CRA) has dropped by 22.2%, from 4,369 reviews in 2015 to 3,400 in 2018. The reviews are both technical and financial; they are conducted by a Research and Technology Advisor and/or Financial Reviewer from the CRA. Quebec … Read more