As Liberals tout ‘innovation agenda,’ CRA keeps scaling back SR&ED credits: CATA

One of Canada’s leading technology industry associations says the federal government is quietly chopping billions of dollars from a program aimed at boosting private-sector R&D across the country. The accusation by the Canadian Advanced Technology Alliance comes as the Liberal government markets its so-called “innovation agenda” as a strategy for boosting economic growth. However, CATA […]

Trudeau announces 75 percent wage subsidies, interest-free loans for Canadian small businesses

On Friday, Prime Minister Justin Trudeau announced that the federal government will now be providing 75 percent employees wage subsidies for qualifying small-and-medium-sized enterprises (SMEs). “Our hope is that employers being pushed to layoff people because of COVID-19 will think again.” Trudeau stated that the goal is to help companies keep employees on the payroll […]

CRA extends tax filing deadlines for corporations and trusts to September 1

The Canada Revenue Agency (CRA) has extended two of the tax filing deadlines for corporations and trusts to September 1, due to the COVID-19 pandemic. The agency said it made this decision to ease the impact of the COVID-19 crisis on Canadian businesses and tax preparers. The extensions, which are for the T2 and T3 […]

Federal government, Innovate BC investing $2 million into BC tech pilot projects

The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) and Innovate BC have signed a memorandum of understanding (MOU) to invest more than $2 million into 22 pilot projects being led by tech companies based in British Columbia. “We’re enabling our traditional industries to become more efficient, competitive, and resilient.” The governments’ […]

Canada’s Tax Court Nixes R&D Credit For Co. Using Old Tech

By David Hansen · March 8, 2021, 6:51 PM EST A Canadian business lost its bid for CA$38,000 ($30,000) in tax credits for scientific research when the Tax Court of Canada ruled that an energy-efficient house it built made use of… Source link