Scientific Research and Experimental Development (SR&ED) investment tax credits (ITCs) may be carried backed to be applied to the prior year’s taxes or carried forward to be applied to future year’s taxes. Additionally, the pool of deductible SR&ED expenditures may be carried forward to be used in future years. This Read more…
Scientific Research and Experimental Development (SR&ED) investment tax credits (ITCs) may be carried backed to be applied to the prior year’s taxes or carried forward to be applied to future year’s taxes. This post will explain the SR&ED carry back and carry forward rules at the federal level. SR&ED ITC Read more…
On November 26, 2020, the Canada Revenue Agency (CRA) announced updates to the SR&ED Filing Requirements Policy to reflect legislative changes which were made in light of the COVID-19 pandemic, in particular, extensions to Scientific Research and Experimental Development (SR&ED) reporting deadlines. The SR&ED Filing Requirements Policy states: In response Read more…
To the CRA, materials that can be claimed for SR&ED are all the raw materials, substances, or other things that make up the body of the claimed SR&ED during the SR&ED process.1 But what about the cost of shipping and transportation of those materials for use in your SR&ED? The Read more…
This post outlines SR&ED program updates from July-September 2020, including administrative, policy, tax law, and court cases. COVID-19 continued to dominate the country for the quarter, but slowly things began to reopen. We have identified some key trends to watch in the SR&ED environment. COVID-19 The COVID-19 pandemic has impacted Read more…