The Canada Revenue Agency (CRA) has recently released an update of service standards for processing SR&ED claims. The following are CRA’s updated service standards for processing SR&ED claims as of December 31, 2015 (following the receipt of a complete claim):
- Refundable claims – 120 calendar days
- Non-refundable claims – 365 calendar days
- Claimant-requested adjustments to refundable claims – 240 calendar days
- Claimant-requested adjustments to non-refundable claims – 365 calendar days
Time: Wednesday, September 30, 2015
7.30 am- Breakfast and Networking
8.00 am- Presentation and Q&A
Location: Sevenoaks Shopping Centre, 2nd Floor Boardroom.
32900 South Fraser Way, Abbotsford (Enter by Chatters and Walk left)
This seminar will cover a variety of options for leveraging government grants and loans in addition to a special presentation on SR&ED tax credits for Research and Development. There exists an expanse of Canadian business funding programs targeting business growth, innovation, and workforce development, for companies in various industries, from manufacturing to digital media, plastics and chemicals, food processing, and biotechnology. Sourcing funding from various programs can give companies the edge they need to secure a competitive advantage and take their business to the next level; however, navigating through the government funding system and staying up to date with new program developments can be challenging while also trying to contend with everyday business operations.
As of June 25, 2015, the Canada Revenue Agency (CRA) has released a revised version of their Financial Claim Review Manual (CRM) – Review Procedures for Financial Reviewers for the SR&ED Program. The CRM currently address the following topics:
- Overview and general information
- Guidelines for coordinated review
- Planning the review
- Conducting the detailed review
- Finalizing the review
The CRA will be hosting a french Scientific Research and Experimental Development (SR&ED) Program webinar on June 17, 2015 at 1:00 p.m. EDT.
This free online webinar will provide a general overview of the program, explaining the eligibility criteria, what expenditures qualify, and how to file an SR&ED claim. This will be an internet-based interactive presentation and will be an excellent opportunity to learn about the SR&ED Program.
Register now (French webinar)
On Tuesday, June 16, 2015, from 1:00 p.m. to 2:30 p.m., NorthBridge Consultants and Excellence in Manufacturing Consortium (EMC) is hosting a free seminar in Mississauga, Ontario, to help companies in the agri-food sector better understand government funding programs and Scientific Research and Experimental Development (SR&ED) tax credits, and especially how multiple government funding programs can be leveraged to execute business strategies. Further details are available from the NorthBridge website.