NorthBridge Consultants has released its Autumn 2012 Newsletter. Topics covered include:
Archive for the ‘NorthBridge News’ Category
NorthBridge Consultants is pleased to accept the nomination for Ninjamatics’ 2012 Canadian Weblog Awards in the “Business & Career and Science, Technology & the Internet” category.
The Ninjamatics’ 2012 Canadian Weblog Awards are a juried competition — no voting! — with nominations that are open in 35 categories between February 1st and November 31st, 2012. The nominees shortlist will be announced on January 15, 2013, and the winners will be announced on January 31, 2013. A running blogroll of the nominees is kept throughout the year to highlight Canada’s blogging talent.
This morning, NorthBridge held a free informational webinar on the Ontario Interactive Digital Media Tax Credit (OIDMTC) titled “$38 Million Reasons to Invest in Digital Media.” The webinar, followed by an interactive Q&A session, met with great success, and we look forward to hosting more interactive sessions and exploring new venues for sharing our government expertise.
The OIDMTC is a great program, offering 35 to 40% of labour, subcontracting and marketing expenses as a Refundable Tax Credit for companies developing interactive digital media products – e.g., websites, mobile apps, games, eLearning products, etc. For more information about the program, contact us today.
North Consulting Group has just released its Summer 2012 Newsletter. Topics covered include:
- Editor’s Welcome: The Invisible Hand of Innovation
- Federal Budget SR&ED Changes: Dollars and Cents
- Mergers & Acquisitions in the Food and Beverage Industry
- Despite Turbulent Economy, Canadian Companies Plan to Move Ahead with IPOs
- Are You Ready for Stormy Weather?
Earlier in June, NorthBridge paired up with Excellence in Manufacturing Consortium (EMC) Canada to host a series manufacturing seminar in Atlantic Canada. The information sessions focused on how to best prepare for a SR&ED review and create a “culture of SR&ED” within your company to maximize success with the program. EMC also posted an account of their experience of the successful events.
The sessions proved illustrative of the diverse experiences companies encounter throughout the SR&ED process, and touched on recurring challenges the program presents for many companies, from understanding the program guidelines and changes to the program, to educating staff of the program’s value.
NorthBridge is involved with the SR&ED process from beginning to end – including providing in-depth support and background for the SR&ED review process and committing physical presence for a review. Typically, following the submission of a SR&ED claim, the applicant company will receive one of three communication forms: a Notice of Assessment (if Accepted as Filed), a request from the CRA for additional information, or a request for an on-site review. The on-site review may be either Technical or Financial, or both. The primary objective of a CRA review, conducted in person by an appointed Research and Technology Advisor (RTA), is to assess the projects’ applicability, to understand the technology and substantiation of work, to assess the cost breakdown and/or to observe proof of costs.
A well-supported SR&ED claim can be maintained through efforts including:
- Tracking project activity on a weekly basis at minimum
- Keeping notes of trials (purpose, metrics and results)
- Maintaining print and digital copies of email
- Requesting statements of work from sub-contractors
- Taking pictures and videos
- Maintaining version control
- Dating all documents.
The review process ensures the validity and stability of the SR&ED program. While the CRA has been increasing the scope and robustness of the SR&ED review process, a well-prepared applicant with strong and organized documentation and a sound understanding of the SR&ED program will ensure a quick and easy proceeding. NorthBridge experts are always available to answer your SR&ED review and general queries.