Usually when we talk about claiming for SR&ED, we talk about how it affects CCPCs. For this reason, I wanted to touch specifically on public companies today. In the future, I will also be dedicating posts specifically to partnerships, foreign-owned and other types of companies eligible for SRED.
While being a public company may not be as attractive as a CCPC when it comes to the SRED program, there are still some benefits that the SR&ED program provides for public companies that conduct research and development in Canada. Public companies can earn an ITC (investment tax credit) of 20% of qualified SR&ED expenditures.
This means that 20% of the claim will go towards any taxes that the public company owes; the tax credit is non-refundable, but can be applied to taxes owing up to three years or 10 years forward. While it’s not as exciting to get tax credits as it is to get a refund, this can still help out a company quite a bit.
There are also the provincial SRED programs to take a look at. Most provinces have their own programs to help companies (both private and public) perform R&D in the province. We’ve outlined what provincial tax credits are offered in a previous article that we had published.
SR&ED in Canada
Helping you capitalize on YOUR innovation
On Thursday, May 14th, we will be holding a complimentary breakfast seminar in Mississauga, Ontario. We will be covering the importance of claiming for SR&ED and how it can benefit your company. We would love to see you there!
Seating is limited, so Register now!
For more information, e-mail info@northbridgeconsultants.com, or call us at 1.519.623.2486.
The environment is on mostly everyone’s mind these days. The changes that you make to help our environment don’t have to be massive changes. There are many small things that you can do to help out and make a difference in your office every day.
- Turn off all electronics and lights overnight. This can waste so much energy. Not only will this reduce the amount of energy that is used in your office, it will also reduce utility costs for your office!
- Recycle. We’re not just talking paper here – many people will bring cans or bottles of pop or water, cans of soup, etc. to work for lunch. You can also recycle computers, but you probably want to be certain that all sensitive data has been completely removed from your computer before recycling it.
- Only print out what you need to. Send memos, meeting minutes and meeting agendas by e-mail instead of printing them out and distributing them.
- Use both sides of paper. If you can, print on both sides of the paper. Personally, I normally keep a stack of paper that I’ve printed on beside my desk as scrap paper.
- Buy used office furniture and electronics. You can easily find gently used furniture and electronics – especially with our economy is as it is right now, so many businesses are suffering and closing, and selling their own office equipment.
- Change the way you travel to work. Take the bus or subway; ride your bike. Carpool if you live near someone who works with you. Telecommute when possible. This also goes for meetings – video conference or conference call when you can, instead of traveling to visit someone.
- Get a programmable thermostat. This allows you to turn down the heat (or up the air conditioning) over night.
- Have a real plant at your desk. Living plants help reduce air pollution.
- Buy office supplies that are (at least partially) made of recycled materials as much as you can. This goes for everything from paper to binders.
- Invest in actual dishes and utensils. Instead of Styrofoam or plastic cups, utensils and plates that will only be thrown out after being in use once, buy actual dishes and utensils that can be washed and used again.
519.623.2486
