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…
What’s the difference between a technologist and a scientist and does it matter when completing the T661? This post discusses the difference between Scientific Research and Experimental Development (SR&ED) personnel listed as “scientists and engineers” vs. “technologists and technicians” (Line 632 & 634 of the T661),1 and if it matters in Read more…
The Income Tax Act has gone through some Legislative changes. How does that impact the SR&ED? The Department of Finance released three legislative proposals relating to the Income Tax Act and Regulations on September 16, 2016, that directly impact the SR&ED program. One of the proposals is still awaiting royal assent. Read more…
Free audio recording of the CRA’s SR&ED Penalties under Subsection 163(2), referencing the Income Tax Act. Presented only for non-commercial informational purposes.
The Canada Revenue Agency (CRA), as per the specifications under the Income Tax Act (ITA), defines Scientific Research and Experimental Development (SR&ED) as a “systematic investigation or search that is carried out in a field of science or technology by means of experiment or analysis and that either falls under Read more…