The 2016 by the Liberal government has enacted new provisions for innovation and green technology. This government has re-emphasized that innovation is a key driver of the economy, and must invest in order to become and world leader in technology creation. To achieve this objective, the government has targeted investment to 4 specific streams to boost innovation. Entrepreneurship – Extended investment through enhanced funding for incubators and accelerators, internships, apprenticeships and immigration policy. By 2017-18, the government has promised to provide funding of $150 million dollars. Science and Technology – Increasing funding for academia, federal laboratories and related foundations. Aggregate funding between 2016-18 will increase funding by approximately $1.75 billion dollars. Innovation Infrastructure – Increased funding to the NRC – IRAP and development agencies across Canada. IRAP in particular is earmarked to receive an additional $50 million dollars in 2016-17. Commercialization and Growth – Scaling the mandates of BDC, EDC […]
The majority of SR&ED claims submitted are accepted without being subjected to a detailed review. In these cases, the claim is considered “accepted as filed”. When this occurs, the CRA will send out a letter stating that the claim was accepted, but no determination was made about the eligibility of the work, but that they are accepted the claim in good faith. Typically once an SR&ED claim has been accepted as filed, it is not subject to reviews retroactively. This means that if you file a claim in the next fiscal year which may be a continuation of previous work and is rejected, in our experience it will not trigger a review of a claim previously submitted. With that said, the CRA has outlined several instances where a SR&ED claim that was was previously accepted as filed may be sent back for re-assessment (i.e. reviewed and possibly reduced or rejected). […]
Welcome to the third iteration of the MCN website! Over the coming weeks and months, stay tuned for new content regarding SR&ED, OIDMTC and a variety of other content. If you have questions regarding programs such as the FedDev Investing in Business Innovation, Advanced Manufacturing Fund, IRAP and other programs to help accelerate your business, contact us! Have a question you would like us to answer on our blog? Submit your questions at firstname.lastname@example.org, and we’ll attempt to answer your questions as quickly as possible. Thank you, and stay tuned!