Journal

Small business venture capital tax credit The small business venture capital tax credit is for corporations that invest in shares of a registered venture capital corporation or eligible business corporation. The small business venture capital tax credit encourages investors to make equity capital investments in B.C. small businesses, in order to give small businesses access to early-stage…

BC IDMTC The BC IDMTC works in conjunction with the federal SR&ED program. Claimants must renounce BC SR&ED however it almost invariably works better for gaming companies and others that qualify for the BC IDMTC. There are a few reasons for this: the qualifying expenditures typically represent a broader base of expenditures, since they include…

Summary of provincial and territorial research and development (R&D) tax credits As at December 31, 2019 For a detailed calculation of a specific provincial or territorial tax credit, use the link to the applicable form. Newfoundland and Labrador Nova Scotia New Brunswick Quebec Ontario Manitoba Saskatchewan Alberta British Columbia Yukon Newfoundland and Labrador Research and development…

BC IDMTC The BC IDMTC works in conjunction with the federal SR&ED program. Claimants must renounce BC SR&ED however it almost invariably works better for gaming companies and others that qualify for the BC IDMTC. There are a few reasons for this: the qualifying expenditures typically represent a broader base of expenditures, since they include…

The federal government has programs specific to agriculture, industrial research and sustainable development. For the most part these programs represent government assistance – which means companies can claim them along side SR&ED – however SR&ED benefits are typically reduced. For an example of how SR&ED works with GOVERNMENT ASSISTANCE see the spreadsheet related to COVID…

The COVID 19 pandemic has given rise to unprecedented challenges for many small businesses. In response the federal government in particular, has stepped up with generous incentives. Typically the incentives themselves are taxable – and generally can be claimed in conjunction with SR&ED incentives.

The Northwest Hydraulics case in 1998 set the new standards for eligibilty and resulted in the introduction of the 5 Questions…. Very few SR&ED cases set a precedent, since the facts differ in each. This case is the exception to the rule. Note that cases provide interesting insights, but unless a claim is unusually large,…