The SR&ED tax credit program is the largest single source of R&D funding in Canada: over $3 billion in tax incentives are distributed annually.1 If you choose to access this program, it’s helpful to understand how applications are processed. What actually happens when an SR&ED claim is received by the Read more…
Audit Prevention…Avoid complacency and avoid SR&ED reviews. We’ve been accepted before using this style of writing, why mess with success? Past experiences with the SR&ED program have a tendency to lull companies into a sense of complacency. Becoming complacent after past successes with SR&ED claims often means claimants are caught out Read more…
Establishing clear processes on how to document your SR&ED process should always be the first step in your project’s journey. It can make all the difference in the end result of your SR&ED project claim–a cool, calm and collected photo finish vs. a chaotic, mad dash at the last minute. Read more…
This post outlines some simple questions that will help an SR&ED neophyte examine existing projects with an eye for recapturing expenses using the SR&ED tax incentive program. 6 Questions for SR&ED Eligibility Can you answer yes to any of these questions? (Note: Your project’s success is not a requirement for Read more…
Getting through an audit by the CRA is as simple as preparation! No one enjoys being audited by the Canada Revenue Agency (CRA), but when it comes to the SR&ED tax credit program, it seems to be happening frequently. What is the process to follow when the CRA contacts Read more…