Latest news with #ScientificResearchandExperimentalDevelopment
Yahoo
21-05-2025
- Business
- Yahoo
SRJ Chartered Professional Accountants Empower Canadian Startups to Maximize SR&ED Tax Credits and Fuel Innovation
TORONTO, ON / / May 21, 2025 / As Canadian startups continue to push the boundaries of innovation, SRJ Chartered Professional Accountants (SRJCA) is helping them fuel that momentum by unlocking one of the country's most powerful funding tools: the SR&ED (Scientific Research and Experimental Development) tax credit program. Designed to reward companies investing in research and development, the SR&ED program can return up to 35% of qualifying R&D expenditures-even for pre-revenue startups. Yet, many innovative businesses fail to claim the full benefit due to complex eligibility criteria and documentation requirements. SRJCA is bridging that gap. With specialized experience in tech, engineering, and healthcare, SRJ Chartered Professional Accountants supports startups by identifying hidden opportunities in their development processes and simplifying the claims process from end to end. "We make SR&ED accessible, not intimidating," said Shayan Rashid, Partner at SRJCA. "Our mission is to help founders stay focused on building their product, while we ensure they get every dollar they deserve." Helping Startups Reclaim Capital and Extend Their Runway From software coding and product prototyping to failed experiments and process improvements, many day-to-day startup activities may qualify for SR&ED-but often go unclaimed. SRJCA helps founders: Uncover eligible R&D efforts Compile compliant technical and financial documentation Maximize claim value with confidence in CRA audits Avoid missed deadlines and costly errors Real Funding, Not Just Tax Deductions For Canadian-controlled private corporations (CCPCs), the SR&ED credit is often refundable-meaning startups can receive a cash infusion directly, rather than waiting to turn a profit. In an ecosystem where cash flow can make or break innovation, SRJCA's personalized, startup-friendly services offer a strategic edge for founders looking to grow. About SRJ Chartered Professional Accountants SRJCA is a leading Canadian accounting firm based in Toronto, specializing in tax advisory, assurance, and SR&ED consulting for small businesses and high-growth startups. With a team of seasoned professionals and a reputation for hands-on client service, SRJCA is committed to helping innovators access the financial tools they need to succeed. Startups looking to learn more or begin their SR&ED journey can visit for resources and free consultations. Media Contact:Company Name: SRJ Chartered Professional AccountantsContact Person: Shayan RashidEmail: info@ SOURCE: SRJ Chartered Professional Accountants View the original press release on ACCESS Newswire
Calgary Herald
25-04-2025
- Business
- Calgary Herald
What the tech sector wants from the federal election as Canada faces 'perfect storm' for foreign takeovers
Article content Canada's innovation and productivity woes are no secret. A report by The Conference Board of Canada found the country placed 15th out of 20 advanced economies when it comes to innovation performance in 2024, while a report the same year from a TD Economics report noted business sector productivity has failed to grow at all since 2019. Both the Liberal and Conservative parties have promised a combination of smarter investment and tax policy and more efficient government as ways of helping the country improve its economic performance, but what does the technology sector itself want? Here's what they say is needed to establish Canada as a force in the digital age. Article content Article content Article content Article content The belief that Canada's tax system needs to be more competitive, overall, to spur investment in innovation is widely held in the tech sector. Article content After the Liberals proposed a capital gains tax hike in 2022, Canada's tech industry vocally campaigned Ottawa to scrap the idea. High tax rates and complex regulations 'deter investment, drive businesses to relocate, and stifle innovation,' said the Canadian Venture Capital Association (CVCA), a private capital sector lobby group that represents over 350 firms. In one of his early moves after taking over as prime minister, Mark Carney cancelled the unpopular increase ahead of the federal election. Article content The CVCA is proposing further measures. It recommends that Ottawa temporarily reduce the capital gains tax inclusion rate from 50 per cent to 25 per cent for investments into eligible Canadian businesses for a period of three to five years to stimulate 'productive private investment,' it said in an April 2025 white paper. Article content Article content Certain programs, such as Canada's Scientific Research and Experimental Development (SR&ED) tax credit, designed to incentivize businesses to conduct R&D in Canada, should be modernized 'to reward innovation and commercialization of Canadian ideas' and support Canadian companies, the Canadian Council of Innovators (CCI), a tech lobby group that represents 150 Canadian companies. The CVCA suggest this could be achieved by raising annual expenditure limits and taxable capital thresholds. Article content Article content Some tech executives and advocacy groups have endorsed shedding underperforming government programs and streamlining agencies. Article content In February, a coalition of tech founders and leaders launched Build Canada — a platform for publishing policy proposals. In one memo, Daniel Eberhard, the founder and CEO of fintech Koho Financial Inc., advocated for a leaner and more effective federal civil service that would slash 110,000 public sector jobs and mandate and publish 'department performance metrics and targets for all federal civil services.' A number of business leaders supported the idea, including Shopify Inc.'s head of engineering, Farhan Thawar; WIND Mobile co-founder Brice Scheschuk; and CIBC's head of innovation banking, Mark McQueen.
