We are often asked by clients, “Can you make a scientific research and experimental development (SR&ED) claim if you end up selling the product?” and “Can you claim any other costs for the time when there is no way to test without making a product?” Both of these questions fall Read more…
When most people think of the Scientific Research & Experimental Development (SR&ED) tax credit, their minds may turn to technology companies developing groundbreaking products or individuals working on scientific breakthroughs in lab coats. However, SR&ED is not just limited to the technological industry. Little known SR&ED sectors: Agriculture Agriculture may 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…
On November 26, 2020, the Canada Revenue Agency (CRA) announced updates to the SR&ED Filing Requirements Policy to reflect legislative changes which were made in light of the COVID-19 pandemic, in particular, extensions to Scientific Research and Experimental Development (SR&ED) reporting deadlines. The SR&ED Filing Requirements Policy states: In response Read more…
There is a little-known corporate structure available to help facilitate research and development (R&D): Non-Profit Corporations for Scientific Research and Experimental Development (Non-profit SR&ED corporations). These are separate from Non-Profit Organizations (NPOs). This post explores non-profit SR&ED corporations starting with CRA definition, SR&ED filing requirements, third party payments, and some Read more…