What is the process for filing for the Scientific Research and Experimental Development program (SR&ED) and The Ontario Interactive Digital Media Tax Credit (OIDMTC)?
Joseph Mauceri, Manager, R&D Tax Incentives Practice, KPMG
A. In order to make a claim for the Scientific Research and Experimental Development program (SR&ED), a company must prepare schedule T661 on its annual tax return.
For each project identified as SR&ED eligible, a technical report must be prepared describing the technological advancements you were trying to achieve, the technological obstacles/uncertainties you had to overcome and the work that was performed to overcome the technological Continue reading »
What are some tax credits for Canadian digital media companies?
Joseph Mauceri, Manager, R&D Tax Incentives Practice, KPMG
The Scientific Research and Experimental Development program (SR&ED) offers Canadian companies both federal and provincial tax credits for expenditures relating to eligible SR&ED activities.
The work must be advancing the understanding of technology and should address technological uncertainty through systematic investigation. Whether your company is developing new products/processes or improving existing products/processes you may qualify for up to 73 cents on the dollar of internal labour expenditures. Continue reading »
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