4 ms·
The article is really light on details, but I'm pretty sure it's not describing anything new. It's just SR&ED (lovingly called shred colloquially) and related p
by stormbrew 12y ago
The article is really light on details, but I'm pretty sure it's not describing anything new. It's just SR&ED (lovingly called shred colloquially) and related provincial programs, which have been around for a long time (in their modern form since at least 1994). In fact, it's probably fair to say that almost every tech employee (and many non-tech employees) in Canada has been under an SR&ED grant whether they knew it or not.
There's actually quite a bit of overhead in reporting on how your work qualifies as research, and it's gotten more strict in recent years. Apparently there have been cases in the past of things like restaurants claiming their chefs were doing research and such.
- danielsiders 12y agoI believe the company also needs to be majority owned by resident Canadian citizens. There are a number of accounting firms that specialize in SRED claims, but most take a cut of your return in exchange for their services.
- amscanne 12y agoCanadian Controlled Private Corporation: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/typs/ccpc-eng.html http://www.cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/typs/ccpc-eng... I believe that permanent residents would also qualify under the requirements, citizenship is not strictly necessary.
- teamonkey 12y agoThe requirements are quite specific. As a designer I didn't qualify for shred when I got here, but programmer colleagues (with an appropriate degree) did.
- stormbrew 12y agoThe requirements are, but enforcement isn't always particularly strong. There's a LOT of companies using SR&ED and relatively not a lot of bureaucrats checking up on it. It's extremely valuable to a company, so some will go to some pretty ridiculous lengths to get it.