On October 14, 2022, the Canada Revenue Agency (CRA) announced updates to the Recapture of SR&ED Investment Tax Credit Policy, and the SR&ED Overhead and Other Expenditures Policy. These updates reflect the legislative changes that have been announced to these select SR&ED program policies. Updates to the Recapture of SR&ED Investment Read more…
On April 28, 2022, the Canada Revenue Agency (CRA) announced updates to the Prescribed Proxy Amount Policy, the SR&ED Claims for Partnerships Policy, and the SR&ED Investment Tax Credit Policy. These updates reflect the legislative changes that have been announced. Updates to the Prescribed Proxy Amount Policy The Prescribed Proxy Read more…
As many taxpayers typically opt to use the Proxy method to calculate their returns, we thought it pertinent to delve further into how to calculate the Prescribed Proxy Amount (PPA), what exactly the PPA Cap is, and how they may affect your claim. In the past, we have discussed the 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 97.9 percent of all firms in Canada,1 and out of the 1,198,632 small businesses within Canada 1,163,027 (97%) belong to a corporation with fewer than Read more…