When is your project eligible for SR&ED?

Apr 07 2016
By: boastcapital
Categories: Innovation Funding, R&D Tax
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Is your project eligible for SR&ED?

Companies tend to organize themselves around the execution of business projects. The team will execute on a plan to fulfill the technical requirements for a particular business project in order to meet certain commercial objectives of the company. When a company wants to claim SR&ED on a project, they view their work through a commercial viewpoint and consider the business project to be a SR&ED project. 

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Impact of the 2016 Canadian Federal Budget on Innovation Funding and SR&ED

Mar 22 2016
By: boastcapital
Categories: Innovation Funding, News, R&D Tax
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Canadian Federal Budget 2016

The Canadian Liberal Finance Minister tabled his first federal budget on March 22, 2016. The focus was on economic growth and job creation as promised during the Liberal election campaign. So no big surprises in the budget but there were some surprising consequences to meeting the election promises, mainly the 3x larger budget deficit which ballooned to $29.4 billion dollars for 2017 fiscal year.

The budget focused on economic growth, job creation and a strong middle class, the minister outlined plans to make investments in infrastructure, health care, postsecondary education, innovation, clean energy, and to introduce a Canada Child Benefit program.

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SR&ED Restrictions – When does Testing & Quality Control Qualify for a Claim?

Mar 17 2016
By: boastcapital
Categories: R&D Tax
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SR&ED Restrictions

When claiming SR&ED it’s important to note that the Income Tax Act (“ITA”) specifies the following exclusions:

1. market research or sales promotion,
2. quality control or routine testing of materials, devices, products or processes,
3. research in the social sciences or the humanities,
4. prospecting, exploring or drilling for, or producing, minerals, petroleum or natural gas,
5. the commercial production of a new or improved material, device or product or the commercial use of a new or improved process,
6. style changes, or
7. routine data collection;

While some of these seem obvious, number 2, quality control or routine testing is not. The definition begs the questions – what is quality control? What is routine?

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Is the Canada Revenue Agency listening? Recap of SR&ED Practitioners Session

Feb 24 2016
By: boastcapital
Categories: News, R&D Tax
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CRA Listening

Are you frustrated with the CRA’s administration of the SR&ED program? Do you have issues with how the review of your last SR&ED claim turned out? You are not alone and there is hope! The CRA is listening, now lets see if they follow through.

The Boast Capital team had the privilege of attending a SR&ED practitioners’ session hosted by the CRA and had the opportunity to listen to directors of the SR&ED department from Ottawa and regional directors and managers within the SR&ED department. SR&ED practitioners from many different firms were invited to listen to the CRA and participate in a Q&A session.

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  • About Us
    Boast Capital is a team of engineers and finance professionals with over 20 years experience helping companies in Canada and the U.S. successfully claim and maximize R&D tax credits.
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