Tax advisory firm Ryan has added David Douglas as a principal and leader of the scientific research and experimental development (SR&ED) practice in Canada. Douglas brings more than 25 years of experience, including 17 years in SR&ED, to the role.
During his career, Douglas has worked closely with the Canada Revenue Agency to identify incentive opportunities for research and development for corporate clients.
In order to spur on the economic benefits inherent in scientific research and experimental development, Canada’s tax benefits for SR&ED activities are among the most generous incentives in the world. Federally, businesses can claim a non-refundable tax credit equal to 15% of eligible expenditures, while Canadian-controlled private corporations can claim as much as 35% in refundable tax credits.
The area is, however, a complex one, and many companies’ SR&ED activities are integrated into daily business instead of some formal lab setting. Tax advisors versed in the intricacies of the area can help businesses achieve the best results in SR&ED tax credits.
“SR&ED programs are among the most complex areas of tax law, and David’s experience helping corporations uncover and secure the full scope of SR&ED incentives and funding opportunities will greatly benefit our clients’ bottom lines,” said Garry Round, president of Ryan’s Canadian operations. “We are excited to have an industry expert like David supporting our ability to provide a comprehensive solution for adding greater client profitability, cash flow, and shareholder value.”
Douglas joins Ryan from BDO Canada, where he spent the last five years as government incentives and SR&ED leader. Before that, he spent thirteen years at Deloitte Canada, where he rose to the level of partner and senior manager for SR&ED tax. Earlier in his time at Deloitte, Douglas focused on corporate reorganization consulting, performing transaction advisory, due diligence, and forensic investigation activities.
He holds a BA in economics and an MBA from the University of Western Ontario, and is a chartered professional accountant.
Douglas is a member of the CPA Association of Canada’s joint Canada Revenue Agency committee on SR&ED issues, and is also a frequent speaker and writer on SR&ED and government incentive programs.
He is a current member of the Boy Scouts of Canada Finance Committee, and previously served as treasurer and vice chair for Big Brothers Big Sisters of Canada, where he volunteered for more than 16 years.