Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
SR&ED Part 1 covers SR&ED fundamentals, providing participants with information and skills required to navigate the SR&ED claim process including: who is eligible to claim, what types of work are eligible and which expenditures are qualified for investment tax credits.
SR&ED Part 2 builds on SR&ED Part 1 and presents more advanced content on specific aspects of this tax credit program. This updated course provides participants with additional information and skills required to navigate the SR&ED claim process.
SR&ED Part 1:
SR&ED Part 1 introduces the federal program for scientific research and experimental development tax credits. The course will provide participants with information and skills required to navigate the SR&ED claim process including: who is eligible to claim refundable and non-refundable tax credits, what types of work are eligible and how the SR&ED program intersects with other government grants and loans. SR&ED - Part 1 provides participants with an overview of the characteristics of eligible SR&ED as well as work that is not eligible. Eligibility will be illustrated with examples based on recent case law. The allowable and qualified expenditure rules are also covered, including the impact of government assistance, contract payments and other tax credits on the calculation of SR&ED tax credits.
Part 1 provides participants with materials necessary for a basic understanding of the SR&ED program necessary to prepare SR&ED claims and to incorporate these claims into corporate tax returns.
For advanced content on SR&ED including case law and eligibility issues, see SR&ED Part 2.
Topics Include:
- Overview of the SR&ED program in Canada.
- Who can claim SR&ED refundable and non-refundable tax credits.
- Step by step approach to claiming SR&ED tax credits.
- Factors to help you determine whether work is eligible for SR&ED tax credits.
- Types of expenditures that qualify for SR&ED tax credits.
- Calculation of qualified expenditures for investment tax credits including the impact of government stimulus payments on SR&ED claims.
- Federal and provincial tax credit rates for different types of corporations.
- Overview of SR&ED filing requirements, CRA reviews, assessments and appeals.
SR&ED Part 2:
SR&ED Part 2 provides a more in-depth review of SR&ED case law, tax legislation and CRA policies. Participants are provided information and skills required to navigate the SR&ED claim process including: who is eligible for refundable credits, how the courts interpret eligible work, qualified expenditures, government assistance and contract payments. Part 2 also covers eligible salaries and wages, cost of materials and ITC recapture.
Topics Include:
- Update on SR&ED legislation and current cases.
- Review of CCPC status and de facto control.
- Eligible SR&ED Salaries or wages and the prescribed proxy amount for overhead expenses.
- Government assistance and contract payments.
- SR&ED materials, supplies and ITC recapture.
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Other Available Sessions
- Session for December 3 (2024) available here.
Schedule
- November 7, 2024, 8:30 a.m. - 12:30 p.m.
- November 8, 2024, 8:30 a.m. - 12:30 p.m.
Key Takeaways
SR&ED Part 1:
By the end of Part 1, participants should be able to:
- Identify the characteristics of work that may be eligible for SR&ED tax credits.
- Determine whether a company is entitled to claim refundable credits.
- Research basic issues using the CRA website.
- Apply this knowledge to file SR&ED claims using prescribed forms.
- Navigate CRA reviews, proposals and appeals.
SR&ED Part 2:
By the end of Part 2, participants should have the skills to:
- Analyze and apply complex SR&ED issues including eligibility of work, interpretation of CCPC status, calculation of eligible salaries or wages and the prescribed proxy amount, cost of materials, supplies and ITC recapture, government assistance including loans, grants and tax credits, and contract payments.
- Consider and apply current issues impacting SR&ED claims including developments in case law and CRA assessing policies.
Who Will Benefit
This seminar will provide benefits to the following groups of professionals:
- CPAs in public practice or industry seeking to understand the benefits, approaches and common pitfalls associated with claims for SR&ED and innovation tax credits.
- CPAs with experience in SR&ED seeking to update their knowledge of SR&ED legislation, other innovation tax credits, tax policies, audits and appeals.
Prerequisite(s)
A basic understanding of corporate taxation and investment tax credits is required.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Babar Khan is an experienced cross-border tax professional with over 14 years of experience in US & Canadian tax compliance and advisory work. He specializes in taxation for Expatriates, Business Travelers, High Net Worth Individuals and Owner-Managed businesses. Babar also teaches at Canada’s Schulich School of Business and CPA Ontario. Babar holds an MSc (Tax) from University of Oxford (UK), an MBA from Schulich School of Business and a BBA from University of Toronto. He is also a dual US and Canadian CPA. Babar also serves on the board of a UK based EdTech company.