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…
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…
In March, the 2012 Canadian Federal budget was released, which included various changes to its Scientific Research and Experimental Development (SR&ED) tax incentive program. The SR&ED Canadian government funding program helps compensate corporate tax paying companies of any size for conducting research and development activities in Canada. The new SR&ED policies and documents will be…
The MaRS organization is one Ontarios largest and most well established not-for-profit groups to provide government funding for research and development. The organizations goal is to support innovation by fostering collaboration between the worlds of science, business, and government. MaRS also provides useful advice and support to small businesses looking to adopt the industries best…
A valuable resource that not enough Canadian businesses tend to take advantage of is the never ending stream of graduates and co-op students from post-secondary institutions. The utilization of these talent pools can be mutually beneficial for both parties; and even more so for the hiring organizations through their use of various Canadian Business Funding…
Small Businesses in Canada operate with a wide variety of options to choose from regarding government incentives for Scientific Research and Experimental Development Programs (SR&ED). The government realizes the potential benefits of R&D projects along with the risks and costs associated with it. Therefore, the Canadian Government has released various tax credits which can be…
Many of our clients participate in SR&ED as as source of funding, however it is notorious for its complicated, demanding application process. Meet Precision SR&ED, a dedicated SR&ED software suite that provides Canadian business owners with the extensive project management and data collection features that are essential when tracking your business activity for SR&ED. Key…
Do you need help financing new business initiatives? Governmental tax credits can help your company grow, while keeping your debt-to-equity ratio under control. Mentor Works has compiled a few great tax credit programs that can help your business thrive: Apprenticeship Employer Signing Bonus This is a great tax credit to help you expand your human…