Applying for the SR&ED tax credit is a complex matter for which it is strongly encouraged to seek expert advice. We were recently referred to a mid-size manufacturing company that designs and builds custom motors for clients worldwide. We had a meeting with the owners to discuss the potential of filing a SR&ED claim, which is something their existing accountants had neglected to explore with them.
Finance Minister, Bill Morneau, tabled the Liberal government's 2018 Federal Budget on February 27, 2018.
Today's marketplace can be fiercely competitive and if you're not grabbing every advantage of your business, you're leaving yourself at risk of being chewed up and spit out by the competition.
Making a Difference Together
SBLR Team is a proactive and involved team. We devote time and resources to raise funds for some very worthy charitable organizations which are making a meaningful impact on our community.
The federal government provided draft legislation on December 13, 2017 to clarify the income splitting proposals initially announced on July 18, 2017.
For family members to avoid being just subject to tax at the highest marginal income tax rate from income splitting, they must provide a "regular, continuous and substantial" contribution to the family business.