biotech-health-science

Have clients with a budding business in science and technology?

The CRA is enhancing the Scientific Research and Experimental Development (SR&ED) Program with the launch of the Self-Assessment Learning Tool (SALT) and the First-Time Claimant Advisory Service (FTCAS).

Read: Senior secured debt offers consistent yield

SALT is an online tool that helps businesses conducting research and development to find out if they may be eligible to receive SR&ED tax incentives. Through specific questions, answers, and examples, SALT helps business owners understand the SR&ED program’s eligibility requirements and offers information and tips to help them prepare their SR&ED claims.

FTCAS is a free, in-person service for first-time SR&ED claimants. Local CRA staff with extensive knowledge of the SR&ED program will meet with first-time claimants, at their place of business, to help them get a better understanding of the SR&ED program, and provide them with tailored information for their business on work that may be eligible, as well as expenditures and documentation requirements.

Also read:

FATCA deal finalized

How to navigate CRA’s new tax rules

Originally published on Advisor.ca

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