A comprehensive, searchable list of CRA SR&ED forms.
As many taxpayers typically opt to use the Proxy method to calculate their returns, we thought it pertinent to delve further into how to calculate the Prescribed Proxy Amount (PPA), what exactly the PPA Cap is, and how they may affect your claim. In the past, we have discussed the Read more…
We are often asked by our clients about taxable benefits and SR&ED. Are bonuses eligible? Retiring allowances? What other benefits can we include? In this article, we will examine taxable benefits and what they mean for your SR&ED application. What are taxable benefits? The SR&ED Salary or Wages Policy defines Read more…
In December 2020, the Canada Revenue Agency (CRA) implemented changes to the Scientific Research and Experimental Development (SR&ED) form, the T661. The new version of the T661 form, the T661(20), is now in use, and the T661(15) will no longer be accepted as of January 1, 2021. In this post, Read more…
Scientific Research and Experimental Development (SR&ED) investment tax credits (ITCs) may be carried backed to be applied to the prior year’s taxes or carried forward to be applied to future year’s taxes. Additionally, the pool of deductible SR&ED expenditures may be carried forward to be used in future years. This Read more…
Scientific Research and Experimental Development (SR&ED) investment tax credits (ITCs) may be carried backed to be applied to the prior year’s taxes or carried forward to be applied to future year’s taxes. This post will explain the SR&ED carry back and carry forward rules at the federal level. SR&ED ITC Read more…