Yearly Archives

2016

Alberta announces Investor Tax Credit

By | General, SR&ED | No Comments

Beginning in 2017, the Alberta government’s “Alberta Investor Tax Credit (AITC)” will attempt to stimulate investment in technology-related small and medium-sized Albertan businesses. The announcement comes as the Province seeks to diversify Alberta’s economy from a traditional focus on oil and gas. The AITC offers a 30 percent tax credit over two years for venture capital investors in IT, clean tech, health technology, gaming, visual effects and digital animation. Program details will be announced soon, with an overview available at this link.

Key take-aways

  • Unlike SR&ED, the program is budget limited, and awarded on a “first-come, first-served basis”
  • Limited to Alberta investors who pay taxes in Alberta
  • Province does not pick winners/losers and will not complete due diligence for investors
  • Stakeholder process is now open, while details on program design and implementation are pending

Pre-Claim Consultation or Pre-Claim Review: What’s the Difference?

By | SR&ED | No Comments

Both programs are recent additions to the discretionary services provided by CRA to assist applicants with their SR&ED claims. The main objective is to reduce the uncertainty of your SR&ED filing outcome.

While one program (PCC) is less rigorous, it provides educational benefits to new SR&ED applicants on the CRA’s eligibility tests for SR&ED work. Participants receive advice and recommendations for future claims, and a basic assessment as to whether or not their claim contains SR&ED work. However, the CRA’s PCC decision is non-binding and does not establish the extent of SR&ED work or expenditures in a given project.

The more rigorous service (PCR) is similar to a regular review, however it can capture benefits as the review is done “when the work is taking place, while information and people are more readily available.” To participate, applicants must meet several requirements, including previous participation in the SR&ED program. The program has just been launched in Western Canada, and will extend to all other provinces through November 2016.

Conclusion:

  • PCC informs the claimant as to whether or not SR&ED work exists within the claim, but not the extent of eligible work or allowable expenditures.
  • PCR informs the claimant with certainty as to whether or not SR&ED work exists within the claim, as well as the extent of eligible work or associated expenditures. However, it requires participants to meet specific criteria.

How can TSGI help? Depending on your specific business context, it may be beneficial to explore these new services. Not only can TSGI provide a free assessment, but we can provide guidance about whether or not CRA’s additional services are right for you. Contact us anytime.

Financial Analyst position posted

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TSGI is now accepting applications for the role of Financial Analyst on our growing team.

If you are a CPA who enjoys working with clients, providing value-added service, seeks challenge and appreciates work-life balance, we encourage you to consider applying.

Check out the posting here. Applications for the position will close Thursday, October 20 at midnight.

Take-aways from the BVF

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As in years prior, TSGI was inspired and energized by the 2016 Banff Venture Forum. We appreciated the engaging conversations and insights from individuals within the lively high-technology and venture capital communities.

There was no shortage of new innovation breaking into the market, including the continuing surge in data analytics technology. Corporate venture capitalism continues to gain momentum, and was more prevalent at this year’s event. Overall, it was a great event to be a part of!

Financial Analyst position posted

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TSGI is now accepting applications for the role of Financial Analyst on our growing team.

If you are a CPA who enjoys working with clients, providing value-added service, seeks challenge and appreciates work-life balance, we encourage you to consider applying.

Check out the posting here. Applications for the position will close Thursday, October 20 at midnight.

TSGI welcomes new Technology Advisor, Jennifer van Zelm

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TSGI is delighted to welcome on board Jennifer van Zelm, M.Sc Eng, to our team of SR&ED Technology Advisors. Jennifer brings a wealth of experience in communication technology, with over ten years of leadership as a Strategic Planning Leader and R&D Manager.

Highlights include Jennifer’s collaborative research projects with academia and industry in the areas of wireless technologies, home networking and human-computer interaction; designing, building and launching a research demonstration lab; and transitioning an ICT-focused research entity to a commercialization centre. Jennifer is a top performer in her field and we are excited to have her join our team!

 

TSGI Technology Advisor recognized for outstanding Doctoral Thesis

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U of C Science Awards and Recognition

U of C Science Awards and Recognition

On June 15th 2016, TSGI team member Samantha Keller (L) was awarded the John Kendall Doctoral Thesis Award at the University of Calgary’s Faculty of Science Excellence Awards reception. Samantha completed her PhD in Chemistry in June 2015, and her thesis was judged to be the top candidate from entrants across the Faculty of Science in the past 12 months.

During her PhD, Samantha studied the behaviour of molecules that make up the materials used in next-generation solar technologies, attempting to understand how molecular level changes can affect light absorption and energy transfer. Congratulations Samantha!

TSGI’s team of highly qualified experts are ready to leverage their expertise to maximize your SR&ED claim. Reach out to us for a free assessment.

 

Pre-Claim Consultation (PCC) and Pre-Claim Review (PCR): What’s the difference?

By | Uncategorized | No Comments

Both programs are recent additions to the discretionary services provided by CRA to assist applicants with their SR&ED claims. The main objective is to reduce the uncertainty of your SR&ED filing outcome.

While one program (PCC) is less rigorous, it provides educational benefits to new SR&ED applicants on the CRA’s eligibility tests for SR&ED work. Participants receive advice and recommendations for future claims, and a basic assessment as to whether or not their claim contains SR&ED work. However, the CRA’s PCC decision is non-binding and does not establish the extent of SR&ED work or expenditures in a given project.

The more rigorous service (PCR) is similar to a regular review, however it can capture benefits as the review is done “when the work is taking place, while information and people are more readily available.” To participate, applicants must meet several requirements, including previous participation in the SR&ED program. The program has just been launched in Western Canada, and will extend to all other provinces through November 2016.

Conclusion:

  • PCC informs the claimant as to whether or not SR&ED work exists within the claim, but not the extent of eligible work or allowable expenditures.
  • PCR informs the claimant with certainty as to whether or not SR&ED work exists within the claim, as well as the extent of eligible work or associated expenditures. However, it requires participants to meet specific criteria.

How can TSGI help? Depending on your specific business context, it may be beneficial to explore these new services. Not only can TSGI provide a free assessment, but we can provide guidance about whether or not CRA’s additional services are right for you. Contact us anytime.

TSGI Cuts President’s Time to Prepare SR&ED Claims by More Than 80%

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Working with TSGI has been a real eye-opener for us. We had used a different SR&ED consultant in previous years but working with TSGI cut my time involvement by more than 80%. The process has been smoother and their proactive approach is a better fit for our company. I am excited to be working with them on our future claims!

President, Machining and Mould Making Company, Calgary