SR&ED Still Complex Program That Requires Engineering Consultation

Posted on April 18, 2012 by admin

The recent 2012 federal budget has eliminated the capital portion of expenditures, and reduced contract payment eligibility from the SR&ED program. Brian Leve of Grant Thornton LLP suggests that the introduction of phased-in rate changes increases the complexity of calculations for applicants, which runs contrary to the recommendation in the Jenkins Report to simplify the program. Furthermore, the application process involves the writing of extremely technical narratives, which adds an extra level of complexity to the program. “It’s a very complex legislation and you need engineers or engineering equivalents to be able to understand and write those narratives and that hasn’t changed.”

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Clickable T661 Form from CRA

Posted on April 17, 2012 by admin

The T661 is the CRA form used to claim for Scientific Research and Experimental Development (SR&ED).  To facilitate the filing process for SR&ED, a clickable version of the T661 form has been introduced in the past year.  The new clickable version of the claim Form T661 (11) is a web-based tool that provides quick access to line-specific information in the Guide to Form T661, and to information on how to complete each line of the T661.  More information about the clickable T661 form can be found on the CRA’s website.

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Milton, ON Seminar on How To Prepare for a SR&ED Review

Posted on April 16, 2012 by admin

On April the 26th, join Excellence in Manufacturing Consortium (EMC) Initiative Experts, NorthBridge Consultants, for an in-depth look at the review process of a SR&ED claim, and how Canadian manufacturers can prepare for a SR&ED review.

[ How to Prepare for a SR&ED Review ]

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Hawkesbury, ON Seminar on How To Prepare for a SR&ED Review

Posted on April 16, 2012 by admin

On April the 20th, join Excellence in Manufacturing Consortium (EMC) Initiative Experts, NorthBridge Consultants, for an in-depth look at the review process of a SR&ED claim, and how Canadian manufacturers can prepare for a SR&ED review.

[ How to Prepare for a SR&ED Review ]

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Digital Media Companies Should Take Advantage of SR&ED, OIDMTC, and OCASE

Posted on April 16, 2012 by admin

Companies in Ontario who undertake work involved with interactive digital media can qualify for the Ontario Interactive Digital Media Tax Credit (OIDMTC), and/or the Ontario Computer Animation and Special Effects (OCASE) Tax Credit, on top of their SR&ED claim.  The SR&ED program focuses on research and development (i.e. technology being developed), whereas the OIDMTC and OCASE programs focus on the development of digital media elements.  To be eligible for multiple tax incentive programs, companies involved with digital gaming, special effects, and the development of interactive media would have to segregate project costs in order to prevent the double-claiming of expenditures.

[ More about digital media tax credits ]

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