Overview of R & D Incentive Program Encouraging Canadian R & D activity is a cornerstone of the Canadian government's economic policies. The government's success in providing a funding mechanism for innovation can be seen in the number of world-class technology... [MORE]
Identifying and Documenting R & D We regularly meet with company representatives to review the company's R & D activities and determine whether they qualify for tax credits. We explain in detail and in clear, plain language how R & D projects should be... [MORE]
Costing R & D Projects We determine and document how much money was actually spent on each R & D project. This involves allocating salary costs and direct and indirect overhead, and determining the usage of materials, supplies, and equipment using... [MORE]
Claiming the Credits R & D tax credits are claimed on a tax return on prescribed forms. These must be filed within one year of the tax return's normal filing deadline (6 months after year-end for a corporation). If these forms not filed within 18... [MORE]
Review by Tax Authorities Most R & D tax credit claims (and all first-time claims) are audited by the tax authorities. The process is rigorous because of past abuses.The technical descriptions are reviewed by a science officer, a person designated by... [MORE]
Tax Planning for R & D We can assist a company in maximizing its R & D claims by; ensuring that R & D is carried out in a scientific manner,; maximizing eligible costs,; maximizing the portion eligible for the 35% credit rate (rather than the... [MORE]
