SR&ED Changes Could Have Long-Term Impact on Manufacturing in Canada

Posted on April 16, 2012 by admin

An article in 20/20 Magazine says that large manufacturing companies stand to lose the most out of the recent changes to the SR&ED program that were proposed by the 2012 federal budget.  The new proposals will reduce the general investment tax credit rate, which applies to the majority of large corporations, from 20% to 15% by 2014, and remove capital expenditures from SR&ED eligibility by 2014.

Investment capital that multi-nationals have set aside for Canada may now go to other countries with more lucrative SR&ED programs.  It will become increasingly difficult to convince multi-national manufacturing companies to open up operations in Canada.

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Upcoming Free CRA Information Seminars on SR&ED Program

Posted on April 11, 2012 by admin

Want to know when the next free CRA SR&ED seminar is in your city?  To follow are the upcoming free SR&ED seminars offered by the Canada Revenue Agency (CRA). Click on the city link to register. Registration is on a first-come, first-serve basis.

City (Language)
 SR&ED Information Seminar SR&ED T661 Workshop SR&ED and Manufacturing Seminar SR&ED and Software/IT Seminar SR&ED and financial issues
Baie-Comeau, QC (French)
 20-Sep-12        
Calgary, AB (English)
 5-Jun-12 24-Apr-12      
Chicoutimi, QC (French)
 18-Oct-12        
Edmonton, AB (English)
 15-May-12 11-Sep-12      
Gatineau, QC (French)
 17-May-12        
Granby, QC (French)
 3-May-12        
Hamilton, ON (English)
 16-May-12        
Kitchener, ON (English)
 14-Nov-12   13-Jun-12    
Laval, QC (French)
 10-May-12        
London, ON (English)
 14-Mar-13     24-Oct-12  
Mississauga, ON (English)
 16-May-12       25-Apr-12
Montréal, QC (English)
 6-Jun-12        
Montréal, QC (French)
 9-May-12        
Ottawa, ON (English)
 17-Apr-12       23-Oct-12
Quebec, QC (French)
 25-Apr-12        
Rimouski, QC (French)
 8-May-12        
Roberval, QC (French)
 31-May-12        
Saskatoon, SK (English)
 14-Nov-12        
Sherbrooke, QC (French)
 23-Oct-12        
St. Catharines, ON (English)
 19-Apr-12        
Toronto Centre, ON (English)
 10-May-12        
Trois-Rivières, QC (French)
 19-Apr-12        
Windsor, ON (English)
 19-Sep-12        

 

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Free SR&ED Information Session in North Halton Region

Posted on April 10, 2012 by admin

Excellence in Manufacturing Consortium (EMC) would like to personally extend an invitation to both EMC members and non-members throughout the Halton Region (Ontario) for a free information session, on April 26, 2012, about the Scientific Research and Experimental Development (SR&ED) program.

The following issues will be addressed:

  • Why are my claims being rejected by the CRA?
  • Why are my claims being significantly reduced?
  • How do we compare here in Ontario or the rest of Canada?
  • What applies and does not apply within a claim? Does Continuous Improvement apply in any way?
  • How can I prepare or be best represented throughout an Audit process?
  • What strategies can I use to double or triple my cash flow from SR&ED?

For more information or to register for this event, please contact Kevin Lenko – Field Service Advisor at 289-442-0871 or by email at klenko@emccanada.org

EMC Canada is a not-for-profit organization whose sole purpose is to help the Canadian manufacturing industry compete globally by sharing ideas and best practices within all manufacturing industries.

 

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Transformative Changes to R&D Funding Upcoming

Posted on April 10, 2012 by admin

In a recent interview with the Financial Post, Gary Goodyear (the Minister of State for Science and Technology) said that the federal government will be announcing changes to the way Canadian businesses obtain venture capital and research and development funding.  The plans to change existing infrastructure comes after the recent 2012 federal budget that reduced the Scientific Research and Experimental Development (SR&ED) program, while providing the Industrial Research Assistance Program (IRAP) a funding boost of $110 million.

There have been concerns that a shift from indirect funding (i.e. SR&ED tax credits) to grant-based direct funding could:

1.  Increase government overhead, bureaucracy, red tape, and make the application process more burdensome for small businesses.

2.  Make access to funding more subjective.  A direct approach would place the decision-making process for funding in the hands of the government, instead of the indirect free-market approach that SR&ED advocates.

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The Leading Edge of SR&ED & Tech Funding

Posted on April 10, 2012 by admin
Event Date:   Apr. 18, 2012
  7:30 AM – 9:00 AM
Location:   AB Innovates Tech Futures 3608-33rd St NW
City, Province:   Calgary, AB
Registration Information:   http://www.ccat.org/ccat-events/next-event
Click here to register.

The Calgary Council for Advanced Technology is hosting a Breakfast Event on Wed. April 18.  This event will feature an informative panel discussion on the impact of the 2012 Federal Budget on Scientific Research and Experimental Development (SR&ED) and other R & D funding. At this educational event, panelists from TSGI Chartered Accountants, the National Research Council-Industrial Research Assistance Program (NRC-IRAP) and Venture Alberta will discuss the new federal budget’s impact on both SR&ED and government funding.

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