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?
CRA 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
SR&ED CRA Audit: It has seen regularly in the publications that the Government of Canada is concerned about the level of Research and Development investments that are made by companies. Hence the allowed expenditures on SR&ED by the type and size of firm, credits claimed and earned and the type of their activity facilitates a wider analysis. According to the Canadian Revenue Agency (CRA), … [Read more...] about Top 20 Risk Factors Should Know To Avoid SR&ED CRA Audit