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 grants and stimulus payments on the calculation of SR&ED tax credits. Part 1 also provides participants with materials necessary for a basic understanding of the program, eligibility criteria to assist in the preparation of SR&ED claims and the ability to incorporate these claims into corporate tax returns.
SR&ED Part 2 provides an update of CRA policies including the 2021 Guidance on Eligibility, an update of relevant case law, as well as a more in-depth discussion of selected topics including government assistance, non-arms length transactions, adjustments to qualified expenditures, and CRA audits, assessments and appeals.
Applicable for:
- CPAs in public practice or industry seeking to understand the benefits, approaches and common pitfalls associated with SR&ED claims.
- CPAs with experience in SR&ED seeking to update their knowledge of SR&ED legislation, policies, audits and appeals.
Prerequisites - Knowledge, Experience or Courses
- Part 1: A basic understanding of corporate taxation and investment tax credits is required.
- Part 2: A basic understanding of corporate taxation and investment tax credits is required, as well as Corporate Tax – SR&ED – Part 1 or equivalent knowledge.
Learning Objectives
By the end of Part 1 of this course, participants will 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.
At the end of Part 2, participants will be able to:
- Analyze and apply legislation and policies regarding more complex issues including CCPC status, salaries or wages and prescribed proxy amount, materials, supplies and recapture, Government assistance including stimulus payments, and contract payments.
- Understand and apply current issues impacting SR&ED claims including developments in case law and CRA assessing policies.
Content
The topics in this seminar include:
- Part 1
- Overview of the SR&ED program in Canada
- Who can claim SR&ED 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
- Part 2
- Update on legislation and current cases
- CCPC status and de facto control
- Salaries or wages and prescribed proxy amount
- Government assistance and contract payments
- Materials, supplies and recapture
- Eligibility of work for SR&ED tax incentives, including 2021 CRA guidance and the 5-question approach used by the courts
Seminar Leader: Joanne Hausch
Presented by PD Partner: CPA Pro
What to Expect
- This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment.
- This seminar will not be recorded.
- Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.
- Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected]
CPA Manitoba PD Terms and Conditions