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Did you know there are two ways to claim SR&ED Overhead expenditures? Most claimants use the proxy method to calculate SR&ED overhead expenditures since it is the simpler of the two methods. It is determined by multiplying your SR&ED labour expenditures by 55%. This is the default option for claiming overhead by most companies. The second and less common […]
Claiming AI/ML centric projects are slightly more complex compared to other technologies. This is due to: Lack of proper understanding of the technology involved, given it is fairly new and developing at a fast pace Overgeneralization that AI models are only about training, and therefore require no experimentation This can be addressed through the following […]
The CRA offers SR&ED claimants a service called Pre-Claim Consultation (PCC). This service will tell you if there is SR&ED eligible work in any of your projects before you submit it to claim SR&ED. The idea behind this is to save you time and effort in putting together a claim and having to wait months thereafter […]
So, your SR&ED claim has just been rejected due to the following reasons: 1. Lack of Documentation 2. Projects don’t qualify Your excuse for number 1, IT’S TOO TIME-CONSUMING TO DOCUMENT FOR SR&ED CLAIM. We’d rather focus on our deliverables, than track our time. Think of it this way – if you invest 10 minutes each week […]
The main aspects to determine if the claimed work meets the definition of SR&ED as given in subsection of the Income Tax Act and to resolve any issues associated with eligibility, the CRA uses three eligibility criteria: scientific or technological advancement; scientific or technological uncertainty; and scientific and technical content. To establish this involves answering […]