The terminology utilized within the Scientific Research and Experimental Development (SR&ED) program can often be confusing. We have been asked to clarify, “what the difference is between refundable and non-refundable investment tax credits (ITCs)?” Claimants understandably want to know how they will receive their SR&ED ITCs. This article examines the Read more…
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…
What happened with SR&ED in the third quarter (July to September) in 2022? Here, we discuss the updates. This post outlines Scientific Research and Experimental Development (SR&ED) program updates from July-September 2022, including administrative, policy, tax law, and court cases. SR&ED Education and Resources was busy in the third quarter Read more…
It is common for SR&ED projects to involve work contracted to professionals outside the claimant’s company and 80% of these SR&ED contract expenditures may be claimed on the related SR&ED tax claim forms to increase the claimant’s final SR&ED refund. It is also possible that all or a portion of 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…