Can fees incurred during the preparation of an SR&ED claim (including SR&ED consultant fees) be included in the claim’s expenditures? SR&ED consultants are often necessary third parties when filing an SR&ED claim, as the process can be complicated. Although the CRA state that “the non-adversarial nature of the process allows Read more…
In the 2018 Ontario Provincial budget, the Ontario Research and Development Tax Credit rate was increased by 2%. The Ontario Research and Development Tax Credit (ORDTC) supports qualifying corporations to “claim a non-refundable tax credit on eligible scientific research and experimental development expenditures performed in Ontario to reduce their Ontario Read more…
Changes to the Ontario Innovation Tax Credit may make small businesses more likely to file a claim. The Ontario Innovation Tax Credit (OITC) is a “refundable tax credit for small to medium-sized companies on eligible R&D expenditures,” 1 and can be claimed when corporations file Schedule 566 with their T2 Corporation Read more…
Since 1999 the Canada Revenue Agency (CRA) has provided the Canadian Treasury with “a comprehensive report on the performance of the CRA for the previous fiscal year, and a discussion of the CRA’s achievements against the key targets and indicators set out in our Corporate Business Plan and Departmental Plan.” Read more…
Are Canadian companies running from research and development because of risk? Innovation in Canada has been under scrutiny by the government, industry, and media in various forms for decades. In this article, we discuss a growing trend among critics of Canada’s research and development (R&D) funding practices, and of the belief Read more…