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June, 2009

 

Case Study

First Time Claimant

Perceived SR&ED to be daunting

A Northbridge client had never before claimed for SR&ED, having had bad experiences in the past with other forms of government funding.

The cheese manufacturer's operations were large and complex. The client also had very little time to dedicate to the process of filing for SR&ED, causing them to avoid the process altogether.

Northbridge Gets to Work

Identifies extensive SR&ED potential

Northbridge Consultants toured all of the client’s facilities, identifying past and present SR&ED work. The consultant set up documentation tracking systems and assisted to identify, define, and formalize an R&D department. The expected SR&ED return made it possible to hire key personnel to help the company move forward.

Claim Accepted as Filed

SR&ED provides significant return

The cheese manufacturer experienced great success with the SR&ED program. The expenses claimed reached half a million dollars. These expenses involved complex scenarios of incremental SR&ED work concurrent with commercial production. After Northbridge’s thorough investigation of their activities, the CRA accepted the claim as filed, and left it unadjusted. The return for the client was very significant and beneficial to further developments.

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

 

Employee Spotlight: Courtney Wilson

While you may come face to face with certain members of the Northbridge team regularly, there are some members who work more behind-the-scenes to make sure that your experience with Northbridge is the best that it can be. Courtney Wilson is a part of this behind-the-scenes team.

Courtney studied Computer Science for a few years before deciding to make the switch to Graphic Design. She graduated from the Graphic Design program at Fanshawe College in April 2006, and has since been working in that field in the Kitchener/Waterloo region. Courtney has been working with Northbridge for over a year as Graphic Designer and Web Developer.

Her background in both Computer Science and Graphic Design has helped her to create effective and functional websites to promote the Northbridge Consultants brand. Aside from the creation and upkeep of the website and other online initiatives, she also assists Ashley Demers, (the Sales and Marketing Specialist) with marketing for Northbridge, including helping to organize and execute Northbridge’s SR&ED seminars.

A voracious reader, every free moment that Courtney has is spent attempting to make her way through the ever-growing pile of books that she owns but has never read. She is also a self-professed sci-fi geek, and can proudly say that she has the largest collection of action figures on her desk at Northbridge.

 

Vision Statement

To be the premier consulting partner for Canadian businesses by offering personalized services that support client and corporate goals. Our top priority is to fulfill the client's needs through the delivery of service excellence, professional expertise and reliability, the preservation of the utmost integrity, and the passionate encouragement of teamwork and employee development.

Mission Statement

Northbridge provides results oriented consulting services through the development of adaptable and innovative business solutions for firms operating in Canada.

Northbridge News

SR&ED Seminars

On May 14th the Northbridge team held another extremely successful informational seminar, this time in Mississauga, Ontario. Thirty companies, ranging from food to aerospace, were in attendance. Northbridge would like to thank everyone who attended.

The next informational seminar is slated for July 9th in Oakville, Ontario at the prestigious Glen Abbey Gold Club located on Dorval Road. You may sign up for this seminar at www.northbridgeconsultants.com/seminar-registration.php or by phone at 519.623.2486

Northbridge is Expanding Again

Northbridge has once again expanded. We are very pleased to announce the opening of our Eastern Canada office. The address is 135 Rockmanor Road in Bedford, Nova Scotia B4A 2Y9 and our phone number there is 902.444.1916. This new location will allow us to better service our Eastern customers.

Of Special Interest

December 2007 Fiscal Year Ends Due June 30th

Just a reminder! SR&ED claims for fiscal years ending December 2007 are due no later than the 30 of June, 2009.

Northbridge Facts & Figures

  • The Canadian SR&ED program has been available since 1985. The SR&ED program provides $6 billion in funding to over 18,000 companies annually.
  • The SR&ED program is the largest single source of R&D funding in Canada.
  • The expenditure limit was increased to $3 Million dollars for tax years ending February 26, 2008 and after.
  • Up to 10% of SR&ED salaries can be claimed for work directly undertaken outside Canada in support of the Canadian SR&ED work
  • In 2008, 96% of claimants who qualified for refundable credits received their refund/credit within 120 days of submitting their complete claim.

Tips & Tricks

  • Have non-production personnel make notes of phone calls, thoughts, sketches, etc. within a personal log book or 'R&D letterhead' rather than on miscellaneous sheets that commonly become lost or disposed of.
  • When preparing the financial data for your claim be sure to accumulate all of the invoices, contracts, and time sheets, into one central and secure location; it is amazing how quickly important documents can disappear. This simple preventative measure is crucial whenever there are changes in SR&ED management.
Complimentary Breakfast Seminar from the SR&ED Experts

Are you aware of how best to recover hundreds of thousands in lost expenditures from the federal SR&ED (Scientific Research & Experimental Development) 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 hear a comprehensive explanation of the SR&ED program. We’ll 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!

This seminar is of no cost to you, but the information you will receive is invaluable!

Thursday July 9, 2009
Glen Abbey Golf Club
Canadian Open Room

1333 Dorval Drive • Oakville, ON

 

Complimentary Breakfast: 8:00 a.m. - 9:00 a.m.
Seminar Presentation: 9:00 a.m. - 11:00 a.m.

We will stay after the presentation is over for you to approach us with any questions you may have.

Click here to register.
Attendance is free. Seating is limited, so register soon!

For more information contact Courtney Wilson
courtney@northbridgeconsultants.com
519.623.2486 ext. 262

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.

Northbridge Consultants 70 Cowansview Rd Cambridge ON N1R 7N3 T:519.623.2486 F:519.623.5654

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