Posts Tagged ‘SR&ED Seminar’

Success of EMC’s Food, Beverage, and Bio Sector Event in Mississauga

NorthBridge Consultants presented at Excellence in Manufacturing Consortium’s Food, Beverage, and Bio Sector event at Mississauga Civic Centre on Tuesday, June the 16th. The event was well attended by Agri-Food manufacturers and all the attendees left with new knowledge to bring back to their companies. Jen Mahon, our VP of Operations, and Gerry Fung, our VP of Business Services, presented on behalf of NorthBridge. They discussed the SR&ED tax credit program, available government grant and loan programs, how to optimize returns from both tax credits and grants, and relevant case studies.

There were several other speakers in attendance who provided information for the attendees during the morning session. The speakers included representatives from the City of Mississauga, the Ministry of Agriculture, Food, & Rural Affairs, Coldbox Builders, Matt & Steve’s, Colliers International, CPG Executive Search, and ValueStream Solutions. All the presentations were geared towards growth strategies for manufacturers in the Agri-Food sector.

We greatly appreciate the opportunity to collaborate with Excellence in Manufacturing Consortium and to further educate companies about the advantages of government tax credits, grants, and loans.

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NorthBridge & EMC Canada team up for successful SR&ED review sessions

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.

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New Brunswick Seminar- How to Prepare for a SR&ED Review

NorthBridge will be offering a manufacturing seminar in Dieppe, New Brunswick (June 7th) entitled “How to Prepare for a SR&ED Review.”

Synopsis: Under current economic conditions, SR&ED is more important than ever for manufacturers because it can increase a company’s cashflow. However, the CRA is now more thorough in their review process, and requires substantially more supporting documentation.   This series of seminars will cover:

– What to expect from a SR&ED review

– Required Technical and Financial Documentation

– Post-review expectations

– Changes to the SR&ED as per the 2012 federal budget

Dieppe, New Brunswick

When- 1:30 pm – 3:45 pm , June 7, 2012

Where- Malley Industries; 1100 Aviation Avenue Dieppe, NB

How- e-mail Kim Perreault to register

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