
The federal budget is 304 pages long; of the 304 pages, there is one paragraph regarding the SR&ED tax credit program. In that one paragraph, most is a reiteration of the purpose of the program and only a few lines comment on changes.
In short, there are no changes specified at this time or no time for specified changes. How does this affect you? This demonstrates how important it is to be working with a firm that has its pulse on the program and all changes and interpretations. The program is always in a state of flux and as such, it is important to be aware of real changes if and when they happen; what is set today, may not be the same tomorrow.
Make it your mandate this year to ensure your claims are up to date – filed as possible within the soft deadline – and filed complete so that when and if changes do come, you have time to consider and incorporate as required. You do not want to be in a situation with hard deadlines and new criteria to consider with the clock ticking.
In summary:
Work with a company that specializes on the program and is current on the latest changes and interpretations. Ensure your claims are up to date and filed as possible by the soft deadline.
Contact Braithwaite to discuss your objectives and how we can help make them happen.
Source:
Government of Canada – https://budget.gc.ca/2022/home-accueil-en.html
900-2235 Sheppard Ave E
Toronto, ON M2J 5B5
Office: 1-416-499-2861
Email: info@braithwaite.ca
eFax: 1-437-889-0955
102-165 Saint-Zotique West
Montréal, QC H2S 1P5
Office: 1-514-495-6590
Email: contact@abgi-canada.com
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.