Hiring a SR&ED consultant is a serious matter because it concerns your SR&ED claim submission and tax refund. The consultant plays a critical role in making sure the SR&ED claim submission process is handled and managed properly without any undesirable consequences. Do not make the mistakes of finding out an unqualified and inexperienced consultant only after you have contracted the … [Read more...] about Facts When Hiring a SR&ED Consultant
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The Truth Behind DIY SR&ED Tax Credit
In order to make sure that you claim all related expenses and maximize your SR&ED tax credit, you will need to possess some specialized knowledge in accounting and a team of technical experts in the field. More specifically, you have to have some specialized knowledge such as: -Legal knowledge such as Income Tax Act and Tax Court of Canada rulings -Updated knowledge of CRA guidelines and their … [Read more...] about The Truth Behind DIY SR&ED Tax Credit
Tax Credit for Pulp and Paper Companies
If you are in the Pulp & Paper industry, then this article will provide you with the key guidance on claiming your SR&ED tax credit. Before we go into the details, we must make sure who is covered and who is not covered. Targeted Claimants for SR&ED Tax Credit If you are from the logging, forestry or wood products sectors, then this guidance article will not be relevant to you. Your … [Read more...] about Tax Credit for Pulp and Paper Companies
SR&ED Tax Credits for Canadian Provinces
The emphasis on scientific development and experimental development, or simply SR&ED, in Canada can be seen in two levels. Not only the federal government in Canada promotes SR&ED, the provincial as well as the territorial government are also encouraging it. The federal SR&ED program and the provincial tax credit programs together form a solid platform to initiate R&D. These two … [Read more...] about SR&ED Tax Credits for Canadian Provinces
IRAP Business Funding Program
What is IRAP? IRAP stands for Industrial Research Assistance Program, which is one of the vital components of the Canada's innovation systems. This program is part of the 2013 Federal Budget for National Research Council (NRC). The IRAP is regarded as one of the best business funding programs in Canada because the funding is non-repayable. Therefore you do not need to pay them back as long as you … [Read more...] about IRAP Business Funding Program
10 Tips When Filing SR&ED Tax Refund
How much do you know about the SR&ED tax refund? Have you submitted your claims for Canada’s Research & Development tax credit program? Or, you are not sure whether to submit because you have heard all kinds of hearsay about the SR&ED tax refund. SR&ED, or Scientific Research and Experimental Development, is a program that supports research and development in Canada. The SR&ED … [Read more...] about 10 Tips When Filing SR&ED Tax Refund
IRAP: $20M Funds for Investment in Businesses Innovation(BIAP)
The Business Innovation Access Program (or BIAP) has a whopping $20 million government funds up for grabs to help smaller businesses to realize their potential. The program is administered by IRAP. If you own a small to mid-sized enterprises (SMEs) with big aspirations, then you might be eligible to access the funds. The BIAP, a Government of Canada pilot program, was announced in the 2013 Budget … [Read more...] about IRAP: $20M Funds for Investment in Businesses Innovation(BIAP)