Update December 2018: In their fall statement, the Progressive Conservative government has announced it is putting the proposed increase, which had been introduced by the former Liberal government earlier this year, on hold while it reviews the effectiveness of both the Ontario Research and Development Tax Credit and Ontario Innovation Read more…
Changes to the Ontario Innovation Tax Credit may make small businesses more likely to file a claim. Update December 2018: In their fall statement, the Progressive Conservative government has announced it is putting the proposed increase, which had been introduced by the former Liberal government earlier this year, on hold while Read more…
Would more consideration for the dates that policy changes take place make compliance easier? Policy-makers have a habit of introducing policy changes in the middle of accounting periods. This creates problems in a company’s accounting and reporting processes, and increases the cost of compliance. These issues could be mitigated by Read more…
The CRA’s Self-Assessment and Learning Tool (SALT) provides claimants an estimate of the refund they are likely to receive under the SR&ED program. The CRA updated its Self-Assessment and Learning Tool (SALT) in August 2017 to factor in recent changes to the provincial tax credit rates made in Manitoba, Ontario, Read more…
CRA Updates Summary of Provincial and Territorial R&D Tax Credits This month, the Canadian Revenue Agency (CRA) updated the Summary of Provincial and Territorial Research & Development (R&D) Tax Credits. Specifically, the Ontario Innovation Tax Credit (OITC) and the Ontario Research and Development Tax Credit (ORDTC) were the two Read more…