When companies partake in multiple government funding programs, tax credits, grants, contributions etc, the issue of of ‘double-dipping’ often arises. There seems to be a lot of confusion around the concept of double-dipping and in this post we will attempt to clear some of them. Double-dipping can take one of two forms: (1) two or [...]
The SR&ED program makes Canada one of the most competitive research and development jurisdictions in the world. Mobile Capital Network, along with its legal partners have the ability to help multinationals leverage the SR&ED program to its fullest. MCN Partner and Principal, Alexei Gavriline, co-authored an article which first appeared in The Canadian, the magazine [...]
We frequently encounter manufacturing companies that are significantly under claiming on their SR&ED tax credits. The biggest mistake we see is that many of these companies view their new product development efforts as the only area where SR&ED is occurring and forget to look at their manufacturing improvement efforts. The methodologies of effective manufacturing process [...]
A major piece of advice we regularly give to our clients is to get educated on the SR&ED program. More often than not, our clients respond by saying something like, “Isn’t that why we’ve hired you?” Our answer to that question is “Yes, however….”. “Yes” relates to the fact that MCN will handle the preparation [...]
In our practice we find that at times clients don’t fully understand why after claiming SR&ED investment tax credits the cheque they receive from the government or the amount of available tax credit carry forward is different from the amount claimed. To understand this, let’s look at SR&ED differently. Instead of exploring how SR&ED is [...]
It is common knowledge that a company has 18 months following their fiscal year end to submit a claim for SR&ED Investment Tax Credits (ITC). The claim can be submitted concurrently with a T2 or filed later as an amendment. However, the time you will wait before receiving your SR&ED ITC or cash depends on [...]