COVID-19 has impacted processing SR&ED claims at the Canada Revenue Agency (CRA), but today SR&ED filers received great news! The CRA announced on their website that: The Scientific Research and Experimental Development (SR&ED) Program is returning to normal activities. We are starting to contact claimants by phone to advance reviews Read more…
What is a “specified employee” in SR&ED, and how does the understanding of this term impact an SR&ED claim? Small businesses account for just under 98 percent of all firms in Canada,1 and a 2005 survey by Canadian Advanced Technology Alliance (CATA) revealed that 69% of its respondents belonged to Read more…
In an update posted on 28 May 2020, the Canada Revenue Agency (CRA) announced changes to collections, audits, objections, and appeals due to COVID-19. In this post, we will summarize those changes. At this time these changes do not directly impact SR&ED claims, but the changes could be expanded at Read more…
The most important form you will need to fill out in order to apply for SR&ED investment tax credits is the form T661. This form is required by the CRA in order to process your tax credit application. Over the past few years, we have described the CRA’s fillable T661 Read more…
What is “on behalf of” when referring to SR&ED contracts? Contractual agreements, whether between arm’s length or non-arm’s length entities, are a common occurrence in the business world, particularly in SR&ED research. In one of our previous articles, we discussed the disbursal of Investment Tax Credits (ITCs) between entities dealing Read more…