On April 28, 2022, the Canada Revenue Agency (CRA) announced updates to the Prescribed Proxy Amount Policy, the SR&ED Claims for Partnerships Policy, and the SR&ED Investment Tax Credit Policy. These updates reflect the legislative changes that have been announced. Updates to the Prescribed Proxy Amount Policy The Prescribed Proxy Read more…
On April 6, 2022, the Canada Revenue Agency (CRA) published a news release stating they have observed a recent increase in Scientific Research and Experimental Development (SR&ED) claims containing false and/or fraudulent information. In the news article, Tax Tip – Important reminder for businesses filing SR&ED claims, they remind taxpayers to make Read more…
On March 30, 2022, the Canada Revenue Agency (CRA) announced updates to the Pool of Deductible SR&ED Expenditures Policy, the Traditional and Proxy Methods Policy, the Third-Party Payments Policy, and the Contract Expenditures for SR&ED Performed on Behalf of a Claimant Policy. These updates reflect the legislative changes that have Read more…
As of January 2014, any costs incurred with respect to capital property are no longer eligible for SR&ED tax incentives as the CRA has removed them from the SR&ED program. Only expenditures of a current nature may be claimed. In response to client inquiries, we feel it is important to Read more…
The numerous and detailed Scientific Research and Experimental Development (SR&ED) related policies can be overwhelming. In an effort to make the inner workings of the SR&ED program more understandable we have examined some of these policies and summarized them for our readers. This summary pertains to the Materials for SR&ED Read more…