Scientific Research and Experimental Development Tax Credit Program

Tax Tip - Small Business Week is here: make sure you check out the Canada Revenue Agency's information and resources that are tailored to the needs of entrepreneurs

Retrieved on: 
Tuesday, October 17, 2023

As you take this time to connect, learn and grow your business smarts, we are excited to share some tax information and resources that can help your business thrive.

Key Points: 
  • As you take this time to connect, learn and grow your business smarts, we are excited to share some tax information and resources that can help your business thrive.
  • The information you choose to discuss with a liaison officer will not be shared with other areas of the CRA, or anyone else.
  • Read about Zouhair , a CRA liaison officer since 2017, who believes empathy is the key to helping businesses with their tax affairs.
  • This story is an example of how CRA employees develop innovative solutions to respond to emerging and unexpected business needs.

myTrack® Helps Customers Take Advantage of the Inflation Reduction Act's Tax Credits

Retrieved on: 
Tuesday, October 3, 2023

Management Controls Inc. (MCi), a trusted global provider of contractor data and spend management software, is helping its customer base utilize the Inflation Reduction Act’s 48C(e) tax credit.

Key Points: 
  • Management Controls Inc. (MCi), a trusted global provider of contractor data and spend management software, is helping its customer base utilize the Inflation Reduction Act’s 48C(e) tax credit.
  • This program will provide an investment tax credit of up to 30% of qualifying investment projects.
  • The Inflation Reduction Act (IRA) provides $500 billion in new spending and tax breaks to boost clean energy, increase tax revenues, and reduce healthcare costs.
  • Using existing TRACK data, customers can request Management Controls assistance with providing the data that contains wage-rate benchmarking to simplify the process of applying for the program.

Governor DeWine, Lt. Governor Husted, Joby Aviation Announce Historic Manufacturing Site in Ohio

Retrieved on: 
Monday, September 18, 2023

The corporation plans to operate the aircraft as part of aerial ridesharing networks in cities and communities around the world.

Key Points: 
  • The corporation plans to operate the aircraft as part of aerial ridesharing networks in cities and communities around the world.
  • "Ohio’s legacy in aviation leadership begins with the Wright Brothers and continues now with Joby Aviation, as they launch a new era in advanced aviation manufacturing and aerial mobility in Dayton,” said Ohio Governor Mike DeWine.
  • WATCH LIVE: Joby Aviation will join Governor DeWine and others this morning at the historic home of the Wright Brothers in Dayton to celebrate today's announcement.
  • Joby plans to pursue Ohio’s TechCred assistance to prepare current and future employees for these high-tech manufacturing jobs and local incentives.

Recce Pharmaceuticals Receives Second Canadian Scientific Research and Experimental Development Rebate

Retrieved on: 
Wednesday, August 2, 2023

SYDNEY, Australia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) (the Company), the Company developing a new class of synthetic anti-infectives, is pleased to announce the international cash receipt of A$98,428.27 from the government of Canada as part of its Scientific Research and Experimental Development (SR&ED) tax incentive program.

Key Points: 
  • SYDNEY, Australia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Recce Pharmaceuticals Ltd (ASX: RCE, FSE: R9Q) (the Company), the Company developing a new class of synthetic anti-infectives, is pleased to announce the international cash receipt of A$98,428.27 from the government of Canada as part of its Scientific Research and Experimental Development (SR&ED) tax incentive program.
  • This is the second rebate the Company has received from the Canadian government.
  • The Canadian government’s Research and Development (R&D) rebate is in addition to the Australian government’s 43.5% R&D tax incentive program.
  • The Company thanks the Canadian government’s continued support surrounding its R&D activities.

Ryan Acquires Leading Research and Development Consulting Firm, Indigo Consulting Group

Retrieved on: 
Thursday, July 6, 2023

Ryan , a leading global tax services and software provider, announced today that it has acquired leading research and development (R&D) tax relief consulting firm, Indigo Consulting Group Ltd (Indigo).

Key Points: 
  • Ryan , a leading global tax services and software provider, announced today that it has acquired leading research and development (R&D) tax relief consulting firm, Indigo Consulting Group Ltd (Indigo).
  • Based in Hertfordshire, United Kingdom, Indigo helps clients in the construction industry secure tax credits, reduce their corporate tax bill, and obtain refunds related to innovative research and development projects.
  • With more than 50 years of combined construction industry experience, Indigo submits hundreds of claims per year with an average client benefit of more than £200,000.
  • “All of us at Indigo are grateful to join Ryan’s R&D tax credits team,” said Peter Kane, Founder of Indigo.

Reunion Neuroscience Reports Fiscal Fourth Quarter and Full Year 2023 Financial Results and Provides a Corporate Update

Retrieved on: 
Thursday, June 29, 2023

TORONTO, June 29, 2023 (GLOBE NEWSWIRE) -- Reunion Neuroscience Inc. (NASDAQ: REUN, TSX: REUN) (“Reunion” or the "Company”), a clinical-stage biopharmaceutical company committed to developing innovative and patented therapeutic solutions for underserved mental health conditions, today reported fiscal results for the fourth quarter and year ended March 31, 2023 and provided a corporate update.

Key Points: 
  • Shareholders will be entitled to receive US$1.12 in cash for each share held immediately prior to the effective time of the take-private transaction.
  • The transaction is currently contemplated to close in the third calendar quarter of 2023, subject to satisfaction of certain closing conditions.
  • On April 3, 2023, Reunion announced that it appointed seasoned pharmaceutical executive, Fred Grossman, D.O., FAPA, to its Board of Directors.
  • Drug Effect Questionnaire and Mystical Effect Questionnaire scores observed at these dose levels indicate the potential for therapeutic effect.

Federal Budget 2023: Businesses want tax relief and investments to compete in the new green economy

Retrieved on: 
Thursday, March 23, 2023

"There is a clear connection between effective tax polices and business activity and investment in Canada," says Lucy Iacovelli, Canadian Managing Partner, Tax, KPMG in Canada.

Key Points: 
  • "There is a clear connection between effective tax polices and business activity and investment in Canada," says Lucy Iacovelli, Canadian Managing Partner, Tax, KPMG in Canada.
  • "These business leaders face pressures not only to re-invest in their business but also to achieve their net-zero goals.
  • Previously announced business tax incentives should move ahead without further delay and new supports be provided, otherwise Canadian businesses risk falling behind, adds Ms.
  • Details on the proposed two per cent tax on share buybacks for public companies are also anticipated in this budget.

David Van Den Beld Joins Ryan’s Scientific Research and Experimental Development Practice

Retrieved on: 
Tuesday, February 28, 2023

Ryan , a leading global tax services and software provider, announced today that David Van Den Beld has joined the Firm as Senior Director of the Scientific Research and Experimental Development (SR&ED) practice and will be based in the Calgary, Alberta office.

Key Points: 
  • Ryan , a leading global tax services and software provider, announced today that David Van Den Beld has joined the Firm as Senior Director of the Scientific Research and Experimental Development (SR&ED) practice and will be based in the Calgary, Alberta office.
  • In 2020, David retired from a Big 4 accounting firm after 12 years of service where he was the national science leader for SR&ED.
  • His role grew to include leading the government grants practice and serving as the U.S./Canadian markets leader for cross-border research and development opportunities.
  • Prior to this role, he led the Western SR&ED practice at another Big 4 accounting firm for eight years.

Catax, a Ryan Company, Acquires Leading Grant Funding Firm, Granted Consultancy

Retrieved on: 
Wednesday, January 4, 2023

Ryan , a leading global tax services and software provider, today announced that innovation funding specialist Catax , a Ryan Company, has acquired a leading grant funding and consultancy firm, Granted Consultancy (Granted).

Key Points: 
  • Ryan , a leading global tax services and software provider, today announced that innovation funding specialist Catax , a Ryan Company, has acquired a leading grant funding and consultancy firm, Granted Consultancy (Granted).
  • Based in Exeter, United Kingdom, Granted helps clients secure funding opportunities to further innovation through end-to-end services, including grant writing consultancy, grant project management, research and development (R&D) tax credits, and grant training.
  • “Our team is honoured to join Catax and Ryan’s grant funding and R&D tax credits team,” said Tom Kennard, Managing Director of Granted.
  • “Granted is a well-respected leader in the UK grant funding market,” said Mark Tighe, founder of Catax.

Paychex Reveals Top Regulatory Issues for Businesses in 2023

Retrieved on: 
Thursday, December 15, 2022

The company's list, compiled annually, outlines the most prominent compliance-related topics employers will need to contend with in 2023 and explores the legislative and regulatory context surrounding these issues.

Key Points: 
  • The company's list, compiled annually, outlines the most prominent compliance-related topics employers will need to contend with in 2023 and explores the legislative and regulatory context surrounding these issues.
  • With more legislative shifts on the horizon, Paychex will continue to support America's businesses, helping them navigate the compliance landscape and remain successful."
  • For a full list, visit this top regulatory issues of 2023 article .
  • Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services.