On April 19, 2021, the Liberal government Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, released the Federal Budget 2021. SR&ED in the Federal Budget – Prior Budgets This is the first federal budget since 2019. The 2020 budget was not released due to the COVID-19 pandemic. Read more…
The Canada Revenue Agency (CRA) recently released detailed guidance on how the Canada emergency wage subsidy (CEWS) affects scientific research and experimental development (SR&ED) investment tax credit (ITC) claims. CEWS is one of many COVID-19 support programs available, designed to allow employers to rehire employees or retain them during the Read more…
A recent legal ruling brought to light the issue of what happens when Scientific Research and Experimental Development (SR&ED) consultants and their clients do not agree. The answer is in the contract. This ruling highlights the importance of both sides reading and agreeing to the details in the agreement as Read more…
On Thursday, February 11, 2021, the Manitoba Crop Alliance (MCA) held its inaugural Annual General Meeting (AGM) where it passed a pair of resolutions. One resolution named the MCA as the agent for producers for the scientific research and experimental development (SR&ED) tax program. The other resolution encouraged a reduction of Read more…
This post outlines SR&ED program updates from October-December 2020, including administrative, policy, tax law, and court cases. COVID-19 continued to dominate the country for the quarter, but many businesses and agencies have found a new way to operate. We have identified some key trends to watch in the SR&ED environment. Read more…