On March 19, 2019, the Liberal government Finance Minister, Bill Morneau, released the Federal Budget 2019. It proposed repealing the use of taxable income as a factor in determining a CCPC’s annual expenditure limit for the purpose of the enhanced SR&ED tax credit. As a result, small CCPCs with taxable Read more…
The 5 Questions For SR&ED – Intent and Evolution The Scientific Research and Experimental Development (SR&ED) program uses 5 questions to determine the eligibility of the work performed. While it is important to know the Canada Revenue Agency (CRA) policies, it is also helpful to review the Tax Court of Read more…
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 Federal Tax Read more…
During the late 1980s and early 1990s, a dubious practice emerged whereby some Canadians corporations established general partnerships with other companies as a means of obtaining scientific research and experimental development (SR&ED) investment tax credits (ITCs). However, in many cases, no SR&ED work was conducted by these partners, which meant Read more…
What is the difference between an “audit” and a “review,” and why does it matter in SR&ED? If you have been notified by the Canada Revenue Agency (CRA) that your SR&ED project is being reviewed, you may wonder if your project is actually being audited. The way the terms “audit” Read more…