Course: Avoiding Common Errors with SR&ED Forms - A Tutorial (LU)

The Scientific Research and Experimental Development ("SR&ED") tax credit program is a generous tax funding program available to clients that you may not have considered.  Medical doctors and many other professionals are presently benefiting from this program - don’t let ignorance or lack of confidence prevent your clients from accessing this funding. 

This webinar focuses on the practical application of financial policies with specific attention to common scenarios encountered when preparing a SR&ED application. The first portion of the session discusses multiple, interrelated policy documents, guides, and forms providing clear examples of both what to do – and what not to do – when submitting a SR&ED application.

In the second portion of the session, we will use the costs generated from the example to complete SR&ED related tax forms using TaxPrep software. We will provide a live walk-through, highlighting common mistakes and areas that require special attention.

Section A: SR&ED Project Costs, Definitions, and Determinations

- SR&ED Salaries or Wages

- Prescribed Proxy Amount

- Materials for SR&ED

- Contract Expenditures

- Assistance and Contract Payments

- Overhead and Other Expenditures

Section B: TaxPrep Walk-through

- Important Corporate Information

- Schedule 32 – T661 – Claim for SR&ED

- Schedule 30 – T1263 – Third-party payments for SR&ED

- Schedule 60 – T661 Part 2 – Project information

- Schedule 508 – Ontario Research and Development Tax Credit

- Schedule 566 – Ontario Innovation Tax Credit

Schedule 31 – Investment Tax Credit – Corporations

Other Issues

 

 

This course will be held online  Nov 27, 2015 at 10 am. It will not be recorded so this is the only time it will be available.

 

 

 

 Within 48 hours of registration, you will receive an email from Go-To-Webinar with all relevant sign-in information.