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 technologists and scientists 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 the T661. 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…