Yesterday, NorthBridge held a webinar for existing clients and contacts to provide key information on the status of SR&ED, review best documentation practices, and discuss funding stacking policies.
As a recap, we discussed:
- The status of the SR&ED review proposed by the federal government in Budget 2022. With consultations currently underway, the review team will assess the value of the program in encouraging IP generation, and potentially introduce new policy to modernize the program. NorthBridge is monitoring consultations and will provide updates once more information is publicly available.
- How changes introduced as part of COVID-19 measures can benefit some industries, while creating challenges for others. Some changes made to the audit process, including extended deadlines and fewer audits, have since been lifted. However, the virtual audits introduced during the pandemic will continue.
- Key points to consider while completing SR&ED documentation and tracking, including the level of detail required, and how to use the SR&ED criteria to better inform activity tracking throughout the year.
- How to maximize your funding while avoiding double dipping for overlapping costs.
Lastly, we heard from guest speaker Amanda Green of Mitacs, who shared opportunities to co-fund and collaborate with academic institutions, particularly in AI and quantum technologies.
Contact NorthBridge to learn more about preparing your SR&ED claim and maximizing your funding, and discover new opportunities to collaborate with Mitacs. Bookmark our events page to stay updated on upcoming webinars and other events.