August, 2009

Case Study: Custom Fasteners

Custom Fastener Manufacturer benefits from second opinion

Client manufactures customized fasteners for industrial applications. They have, in most recent years, faced increased competition from offshore manufacturing. Previous consultants had assessed their refund at $19,500. The company had assumed that was all they could receive, as they were unfamiliar with the SR&ED program.

The CRA has stated that a majority of claimants claimed less than they could

Some claimants feel guilty for claiming under the SR&ED program because they don’t feel they are eligible. It took a consultant like Northbridge to identify and prove to the client that they were leaving money on the table. Northbridge contacted the company for a second opinion. Northbridge re-assessed them at a higher rate and the client realized that even though they had filed and had been approved they still had time to re-file for that claim.

Through systematic investigation, Northbridge increased claim by over 750%

Northbridge reviewed the company’s SR&ED claim and was able to identify more projects than previously determined. Very quickly, Northbridge engineers were able to help the client resubmit their claim by the CRA deadline. Northbridge was on hand through the review process and even prepared the client to handle the technical and financial review that was to follow their new claim. The client received payment of $147,500 from the CRA.

This is a factual account of a client’s success with Northbridge Consultants. Names have been removed to protect the client.

Calendar of Events - August, 2009

Employee Spotlight: Kyle Hannah

Business Account Manager Kyle Hannah has been with Northbridge Consultants since April 2008. Kyle is a graduate of the Engineering Physics program at McMaster University class of 2007 and utilizes the diverse knowledge base gained in University to aid clients in identifying and claiming even the most difficult projects. Since joining Northbridge Consultants Kyle has worked to develop a strong understanding of the SR&ED program while continuously working to build and maintain client relationships.

An avid traveller, Kyle has found himself on four continents over the years including trips to Asia, Australia and Europe. You may not see him venturing overseas again soon however as according to him the next step will be exploring much more of Canada and North America.

In his spare time Kyle enjoys watching and reading about sports, (Go Jays! Go Leafs! Go Raptors! Go Chiefs!) and he is always up for discussing the latest news or last nights’ great play. He also enjoys golf (poorly), relaxing up at the cottage and camping with friends.

Since starting with Northbridge, Kyle has completed claims for companies in industries ranging from metal working to aggregates to food processing and everything in between. He looks forward to each new industry as all provide new and interesting clients and projects. He also looks forward to learning about new processes and improved products and helping Northbridge Clients get the most out of their SR&ED returns.

Northbridge News

Northbridge at Glen Abbey Golf Club

Northbridge recently held an informational seminar at the Glen Abbey Golf Club in Oakville, ON. Attendance was tremendous with 30 companies and nearly 60 people in attendance. The wide array of industries represented was truly amazing. Tool and Die, Printing, Cosmetics, Metal processing, Food processing and Geothermal Energy were all represented, just to name a few. Thank you to all who attended.

SR&ED Seminar at McMaster Innovation Park

Northbridge will be holding another informational seminar on September 17, 2009. This time we will be heading to Hamilton and McMaster Innovation Park. The seminar will include a full breakfast beginning at 8am with the presentation commencing at 9am. Please feel free to visit northbridgeconsultants.com for more information.

If you have questions pertaining to anything SR&ED related please do not hesitate to contact us by email at info@northbridgeconsultants.com or by phone at 519.623.2486.

Northbridge takes pride in maintaining an unmatched level of customer service to our clients. Our account managers are evaluated based on client feedback – please complete our survey to let us know if Northbridge Consultants met or exceeded your expectations, as well as how we can improve our service to you.

Although we endeavor to ensure timely and accurate information throughout this newsletter, it is not intended to be a definitive analysis of legislation cited, or a substitute for professional advice. Readers are encouraged to seek professional advice when attempting to relate their specific situations to information disclosed within.