|By Marketwired .||
|January 24, 2013 11:02 AM EST||
OTTAWA, ONTARIO -- (Marketwire) -- 01/24/13 -- The Canada Revenue Agency (CRA) administers the Scientific Research and Experimental Development (SR&ED) tax incentive program on behalf of the Government of Canada. The CRA is committed to informing businesses in Canada about available incentives, making them easily accessible, and managing the SR&ED program with fiscal integrity.
In response to Economic Action Plan 2012, the CRA is taking the following steps to improve the predictability of the outcome of SR&ED claims:
-- conducting a pilot project to determine the feasibility of a formal pre- approval process; -- enhancing the on-line eligibility self-assessment tool; -- improving the Notice of Objection process; and -- working collaboratively with industry representatives to address emerging issues.
Formal pre-approval process (FPAP) service
The CRA understands that businesses would like to have more certainty about whether their claim qualifies for the SR&ED investment tax credits. To respond to this need, the CRA is looking at the feasibility of a formal pre-approval process (FPAP). The CRA will test the concept through a pilot project that will begin during the spring of 2013.
The proposed FPAP service will provide enhanced predictability of the eligibility of an entire SR&ED claim or a specific project. The CRA will work with claimants in real time to help determine what work and expenditures are eligible for SR&ED investment tax credits and what supporting evidence is required. If the pilot project is successful, the proposed FPAP service should result in faster claim processing as it will eliminate the need for a post-filing, on-site review of SR&ED claims.
In order to test and evaluate the proposed FPAP service and ensure that it meets the needs of claimants, the CRA is currently seeking participants for the FPAP pilot project. Information about the pilot project and the possibility of participating can be found on the CRA Web site at http://www.cra-arc.gc.ca/txcrdt/sred-rsde/whtsnw/prpprvlsrvc-eng.html.
On-line eligibility self-assessment tool (ESAT)
The CRA is enhancing the on-line eligibility self-assessment tool (ESAT) that has been available since 2008. The enhanced ESAT will continue to help claimants to determine if the research and development work that has been done has the potential to satisfy the requirements of the SR&ED program. It has been designed to help claimants to better understand the SR&ED policy on the eligibility of research and development work and to determine in a practical way how it applies to a particular business. The enhanced ESAT could also assist claimants in completing Form T661, Scientific Research and Experimental Development (SR&ED) Expenditures Claim. Several members of the SR&ED community will be testing a preliminary version of the tool and providing feedback before the enhanced ESAT is made available on the CRA Web site.
Notices of Objection for claims
The CRA has improved the review process for Notices of Objection related to the scientific eligibility of SR&ED claims. The CRA has hired additional scientific staff with a broad range of science and engineering expertise who can perform a more specialized review in addressing the SR&ED scientific eligibility issues that claimants have raised in their Notices of Objection. The reviews have also been expanded to provide for greater contact between the CRA's SR&ED scientific staff and the claimants.
Collaboration: listening to stakeholders
The CRA continues to meet with industry representatives to discuss and address emerging SR&ED issues. For example, in October 2012, the CRA held a forum for the oil and gas and mining industry. One of the objectives of the forum was to discuss issues of importance to both the CRA and the industry related to the SR&ED program.
The CRA also jointly developed with SR&ED stakeholders case studies on emerging technical issues for discussion at the forthcoming Association de planification fiscale et financiere (APFF) SR&ED Symposium to be held in Montreal, Quebec, in February 2013.
Policy Review Project
Following nearly 16 months of public consultations, in December 2012, the CRA announced the successful completion of its SR&ED Policy Review Project and released consolidated SR&ED policy documents. None of the principles were changed, but the text was re-written to improve clarity and readability. The policy information was reformatted and restructured and is now presented in a user-friendly way on the CRA Web site. The new format of the policy documents makes it easier for the CRA to update them regularly to reflect legislative changes and to facilitate understanding through, for instance, the addition of more examples.
For more information about the SR&ED program, visit http://www.cra-arc.gc.ca/txcrdt/sred-rsde/menu-eng.html or contact the CRA.
Stay connected (www.cra.gc.ca/socialmedia)
To receive updates when new information is added to our Web site, you can:
- follow the CRA on Twitter - @CanRevAgency;
- subscribe to a CRA electronic mailing list; and
- add our RSS feeds to your feed reader.
You can also visit us on YouTube for tax-related videos.
Canada Revenue Agency
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Jul. 30, 2015 01:45 PM EDT Reads: 255
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,043
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jul. 30, 2015 09:00 AM EDT Reads: 2,146
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 29, 2015 03:00 PM EDT Reads: 1,261
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
Jul. 29, 2015 02:00 PM EDT Reads: 1,178
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Jul. 29, 2015 01:45 PM EDT Reads: 432
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Jul. 29, 2015 07:30 AM EDT Reads: 281
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 28, 2015 06:30 PM EDT Reads: 1,378
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Jul. 28, 2015 04:30 PM EDT Reads: 1,759
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
Jul. 28, 2015 11:00 AM EDT Reads: 2,036
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Jul. 27, 2015 10:00 AM EDT Reads: 2,023
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Jul. 27, 2015 09:00 AM EDT Reads: 315
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
Jul. 27, 2015 08:00 AM EDT Reads: 1,898
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
Jul. 26, 2015 09:00 PM EDT Reads: 1,568
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 02:00 PM EDT Reads: 383
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Jul. 25, 2015 01:00 PM EDT Reads: 1,951
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
Jul. 25, 2015 12:15 PM EDT Reads: 454
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 12:00 PM EDT Reads: 1,529
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Jul. 25, 2015 09:00 AM EDT Reads: 1,482
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
Jul. 24, 2015 11:00 PM EDT Reads: 2,056