Author Archives: admin

Toronto Best Place to Build Startups Due to Government Funding and Access to Talent

Toronto is the best place in Canada to build a startup, and the 8th-best place in the world, according to Genome’s Startup Ecosystem Report. The Canadian and provincial (Ontario) governments provide startups with substantial R&D funding from IRAP and SR&ED.  In … Continue reading

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Ammendments to SR&ED

Bill C-4 was tabled on March 21, 2013, and proposed ammendments to the Income Tax Act.  This bill has received royal assent and has become law. A summary of the new ammendments are as follows: Undeducted SR&ED expenditures from before … Continue reading

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British Columbia Extends SR&ED Tax Credit

Finance Minister Mike de Jong announced that British Columbia will extend the Scientific Research and Experimental Development (SR&ED) provincial tax credit for an additional three years until September 2017.  According to provincial Finance Ministry figures, the tax credit was worth … Continue reading

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Alleged CRA Fraud Scheme Results in 142 Charges

The RCMP has completed a 6-year investigation into an alleged fraud scheme at the CRA by laying 142 charges against 8 former CRA officials and 7 businessmen.  Launched in 2008, the investigation looked into allegations that senior CRA auditors received … Continue reading

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Grants May Stifle Innovation for SMEs

In a recent article in the Financial Post, Julie Bond, a SR&ED tax consultant, opined that the recommendation in the Jenkins Report to reduce the refundability of SR&ED tax credits and to move towards a grants-based system will stifle innovation … Continue reading

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