Join us on July 9th for a complimentary breakfast seminar! Seminar will be held at Glen Abbey Golf Club – stay after our seminar for “Tips for a Golf Pro” on the driving range.
Are you aware of how best to recover hundreds of thousands in lost expenditures from the federal SR&ED Tax Incentive Program? With SR&ED you can collect significant returns from the Canada Revenue Agency for your company’s innovations, new technology and product or process developments.
Join us for breakfast and a comprehensive explanation of the SR&ED program. We will discuss in depth:
- How the SR&ED program operates, what work and expenditures are eligible, and what criteria must be met
- Recent changes to the program and what is needed to support your claim
- What amount you can expect from your return, and how the funds can benefit your business
- Audit preparation and what to expect if the CRA calls for a review
- and much more
Seating is limited, so register now!
Living in Canada, in almost every province, we are all very familiar with the January thaw. It is that wonderful time in the middle of the winter when the snow banks melt and you hope that it might not snow anymore while knowing that there is a long winter ahead.
The economy is similar in the way it moves.
It is true that there are indicators that a rebound is beginning; gas prices are going up, unemployment is slowing and the stock market is coming out ahead at the end of the day instead of regular triple digit losses. Economists and banks are reporting the recession is bottoming out and that things will now begin to return to normal.
I really hope that this is true.
This reminds of the time in the not too distant past when we were told to invest in tech stocks because they were “rock solid.” The same rhetoric is now being used and it sounds like it is coming from the same people.
Like the weather forecasters will tell you, “enjoy the January thaw because winter will be back soon,” there are economists predicting another dip before recovery (spring) will begin. While this prediction is not certain it is better to err on the side of caution and try to get as much out of the government as you can while they are willing to give it.
Thorough documentation is a necessity when making an SR&ED claim. Good documentation proves to the CRA reviewers who are looking into your claim that you have done all the work to get through the technical obstacles that you claim to have done. The more documentation that you have, and the better quality it is, the better supported your claim is.
There are two types of documentation that you will need when supporting your claim – technical documentation and financial documentation. Technical documentation shows that some sort of technical advancement has taken place, and financial documentation is to check costing.
Some examples of technical documentation are drawings and photographs, whereas examples for financial documentation are invoices and T4s.
519.623.2486
