Natural Sciences and Engineering Research Council of Canada (NSERC), a known name among academic institutions and business sectors, has been working to foster partnerships between academic institutions and businesses by providing research grants, knowledge resources, facilities and skilled talent for the purpose of leading innovation and encouraging technological research and development. There … [Read more...] about NSERC Engage – Is it for you?
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Ontario SR&ED Budget Update
The recently released Ontario 2016 Budget made some modifications to the SR&ED program which could impact CCPC (Canadian Controlled Private Corporation) and non-CCPC significantly. Two Ontario SR&ED tax credits, namely - The Ontario Innovation Tax Credit (OITC) and Ontario Research and Development Tax Credit (ORDTC) have undergone reductions. OITC decreased from 10% to 8% and ORDTC from … [Read more...] about Ontario SR&ED Budget Update
Grant for Capital Investment in Green Technologies
Ontario has always been at the forefront of green innovation. Over the past few years, it has offered various grants to businesses dedicated to reducing their greenhouse gas (GHG) emissions and become more energy efficient enterprises. Kathleen Wynne, Premier of Ontario, quotes that these initiatives will reduce GHG emission “….while promoting the innovative and disruptive technologies that will … [Read more...] about Grant for Capital Investment in Green Technologies
Hiring Funds Through Mitacs Accelerate Program
Mitacs is a national non-for-profit organization which is actively operating from 1999 and since then has provided funding supports to large number of businesses. Among various hiring and training funding programs Mitacs provides a cluster of programs helping current recent graduate students(Master's students) to be engaged in resolving business challenges with support of Canadian … [Read more...] about Hiring Funds Through Mitacs Accelerate Program
How to Prepare For Your CRA SR&ED Review?
The first step when you find out that your SR&ED tax credit claim has been reviewed by the CRA (Canada Revenue Agency) is to read and understand the CRA concerns pointed out in the SR&ED Review letter. Usually there are three types of documents being requested by the CRA: 1-General information about the business such as organization chart or business registration. 2-Technical documents … [Read more...] about How to Prepare For Your CRA SR&ED Review?
Research and Development Tax Credits for Chemical Industries
On the off chance that you are running an operating business in the field of Chemical industry and are energetically occupied with innovative work of your products and processes you may meet all requirements for R&D Tax credits. This is one of the Federal Government programs and is known as the Scientific Research and Experimental Development(SR&ED). The program is intended to energize all … [Read more...] about Research and Development Tax Credits for Chemical Industries
Questions Asked During SR&ED Claim Review
CRA’s SR&ED claim reviews are really inevitable. Every time you submit an SR&ED claim to the CRA, your claim maybe reviewed in a detailed manner to make sure that it meets the requirements of the program. Statistics show more than 25% of SR&ED claims are being reviewed since the CRA's recent changes have been adopted. CRA has Research and Technology Advisors(RTA) that are trained to … [Read more...] about Questions Asked During SR&ED Claim Review