Funding for Research and Development: From Idea to Commercialization

Funding for Research and Development: From Idea to Commercialization

Government funding for research and development (R&D) activities is widely popular. There are many different funding programs and mechanisms available to help businesses offset the costs (and risks) of engaging in R&D. This helps Canadian businesses to reduce the time it takes to develop a new product or service. Many businesses that we work with…

Budget 2019: Impacts on the Canadian Government Funding Landscape

Budget 2019: Impacts on the Canadian Government Funding Landscape

When Canada’s federal budget was released on March 19, it gave Canadians another look at the Liberal party’s spending strategies. Like previous years, the federal government is staying committed to investment aimed at boosting the economy, especially as it relates to middle-class families. However, Budget 2019 also provided many great insights into the support businesses…

IRAP and SR&ED: Innovation Requirements for Research Funding

IRAP and SR&ED: Innovation Requirements for Research Funding

When performing research projects that involve technical risk or uncertainty, Canadian innovators should use government funding programs. These offset project costs and reduce risk, making exploratory innovations more achievable for SMEs. To innovate as efficiently as possible, companies should be aware of how incentives such as the Industrial Research Assistance Program (IRAP) and the Scientific…

Gain a Manufacturing Edge w/ Grants and Tax Incentives: June 22 in Gormley, Ontario

Gain a Manufacturing Edge w/ Grants and Tax Incentives: June 22 in Gormley, Ontario

The Canadian manufacturing industry has reasons to be cautious, yet optimistic in the short-term future. In February 2016, the industry’s contribution to Canada’s gross domestic product (GDP) rose by 1.5%, yet as a whole, industry sales dropped by 1.6%. As the Canadian business landscape changes, manufacturing executives must understand how to respond to new opportunities…

Shifting Trends in Canadian Government Funding

Shifting Trends in Canadian Government Funding

The Globe and Mail recently reported on a shifting trend in Canadian government funding: changing rules to the popular Scientific Research and Experimental Development (SR&ED) tax incentive program have resulted in declining claims. According to the Globe and Mail, SR&ED payouts have reduced by over $1 billion since 2008. At the same time we’re seeing…

Maximize Funding for Digital Media with Grants, Loans & Tax Credits

Maximize Funding for Digital Media with Grants, Loans & Tax Credits

There are several options for companies engaged in developing interactive digital media products in Canada, including: Ontario government grants, Canadian small business loans, and both national & provincial tax credits. It is important to understand the difference between these funding instruments in order to maximize a digital media firm’s funding potential while improving project scope,…

SR&ED vs IRAP: An R&D Funding Comparison & Analysis

SR&ED vs IRAP: An R&D Funding Comparison & Analysis

Innovation has been identified by the Canadian government as an area of investment to fuel economic growth and prosperity. Thus, several research and development grants, loans, and tax credit are offered through the government to help promote innovation from Canadian-based corporations. It is important that Canadian SMEs understand the best application of various R&D funding…

CRA Offers New SR&ED Tools & Services to Support Business Innovation

CRA Offers New SR&ED Tools & Services to Support Business Innovation

Earlier this month the Canada Revenue Agency (CRA) launched two tools for innovative businesses that are interested in learning about SR&ED tax credits. The tools are called the “Self-Assessment Learning Tool (SALT)” and the “First Time Claimant Advisory Service” (FTCAS), as a part of its Red Tape Reduction Commission Consultations (RTRC). Businesses can Utilize SALT…

What is SR&ED? The Canadian R&D Tax Credit

In today’s business culture, technological innovation and rapid global expansion are driving businesses to invest more in research and development activities to give their organizations a competitive edge. The Canadian Government has recognized the importance of scientific research and experimental development (SR&ED) and has since released the SR&ED Investment Tax Credit (ITC). Canada Revenue Agency…