An introductory course that outlines the fundamental elements of the SR&ED program which benefits over 20,000 taxpayers each year. Many claimants are small businesses who are able to claim cash refunds which are an important source of funding for R&D and other business activities. Attendees will have an opportunity to consider the types of work that are included as eligible SR&ED, with reference to live examples based on recent case law. The allowable and qualified expenditure rules are also covered, with a focus on qualifying for refundable credits for CCPCs. Finally, there is a summary of tips and traps for successful claims.
The SR&ED program is the most significant source of government funding for Canadian corporations. These companies often rely on their advisors to guide their staff in the preparation and filing of claims. SR&ED Fundamentals provides members with materials necessary for a basic understanding of the program and eligibility criteria to assist in preparation of SR&ED claims and to incorporate these claims into corporation tax returns, using real-world examples to illustrate eligible SR&ED work and CRA assessing policies This course provides a stepping-stone to the one-day course, SR&ED: Advanced.
WHO WILL BENEFIT:
Practitioners in public practice or industry seeking to understand the benefits, approaches and common pitfalls associated with SR&ED claims
By the end of this course, participants will be able to:
- identify work that may be eligible for SR&ED tax credits
- determine whether a company is entitled to claim refundable credits
- research basic issues using CRA website using T2 Form T661 and Schedule 31 to file a claim
A basic understanding of corporate taxation and investment tax credits
|| Estimated CPD Hours: Total - 3.5