Jan 19, 2022
As we advised in Tax Tip 20-04 , significant additional disclosure and filing requirements for trusts were announced in the 2018 Federal Budget and are scheduled to apply for trust’s 2021 and subsequent tax years.
Even if not primarily a high-technology company, a business may still be eligible to claim scientific research and experimental development tax credits if it performs such activities. These tax credits are available to any company that carries on a research program in a scientific manner, where this research involves technological uncertainty and innovation.
In collaboration with our affiliated entity, Scitax Advisory Partners LP, we assist Canadian businesses in maximizing the tax benefits of their R & D activities by providing R & D tax consulting services and assisting with the claims process.
Our team helps clients:
Because the investment tax credits are so lucrative, the potential recovery far outweighs the costs involved. Provincial tax credits may also be available.