Thursday, November 12, 2009

Tax incentive program

The ongoing economic meltdown and environmental concerns - these two issues make it more challenging for small and mid-size businesses in Canada not only to succeed, but in several cases to survive. Did you realize that the Government of Canada developed and introduced a unique program to help small and mid-size businesses operate successfully? The SR&ED tax incentive program is a great "war chest" resource, especially during the recent economic downturn. Each year, the SR&ED program provides over $4 billion in refunds and tax credits to over 18,000 claimants. Of these, approximately 75% are small businesses. Naturally, there are questions you might be asking yourself now. Some of which could be: Your Question: What is the SR&ED program? Answer: The Scientific Research & Experimental Development (SR&ED) program is a Canada Revenue Agency (CRA) initiative that provides incentives in the form of refunds and tax credits to Canadian businesses of all magnitude, and in all sectors for R&D conducted in Canada. Your Question: How does my business gain from this program? Answer: The SR&ED program assist you to: - fund technological and environmental advances that keep your company competitive: - maximize the return on your investment for the initiatives above - better align your company for future R&D and experimental projects.

No comments:

Post a Comment