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…
In 2019, there were sixteen legal rulings that dealt with scientific research and experimental development (SR&ED). In this post we will do an analysis of the legal rulings and how lessons learned from others can help you with your future SR&ED claims. Out of sixteen rulings, only five were successful Read more…
What are assistance and contract payments, what is the difference between assistance and contract payments, and how do these affect your SR&ED tax credits? When SR&ED work is completed with the help of outside parties, a contract is essential to determine which company is eligible to claim SR&ED and how Read more…
DIY SR&ED: Money-saver or potential disaster? Preparing an SR&ED tax incentive claim without the assistance of a consultant may appeal to many claimants. There are many RTAs (Research and Technology Advisors at the CRA) that will encourage “do-it-yourself” (DIY) SR&ED claims. In this post, we discuss the benefits and potential drawbacks Read more…