In the bioscience sector, a company’s innovative products or services set it apart, make it viable, and help increase its speed to market.
One of the tools that is available to support companies developing innovative products is the Scientific Research and Experimental Development Tax Incentive Program.
The SR&ED Program is a federal tax incentive program designed to encourage Canadian businesses of all sizes, and in all sectors – but particularly small to medium and start-up firms – to conduct research and development (R&D) in Canada that will lead to new, improved, or technologically advanced products, processes, devices, and materials.
However, to be successful when claiming the Scientific Research and Experimental Development (SR&ED) tax credit, the focus must shift from how innovative your product is, to the scientific or technological advancements you needed to make in order to be able to develop it.
To help companies navigate this terrain, Emergence financial partner, Grant Thornton, will host a seminar at their Charlottetown offices next Wednesday, April 05, 2017 at 3:30pm. This will be followed by a cheese & wine networking session! Please RSVP here.
One key aspect of the SR&ED tax credit program is that not all R&D is SR&ED!
At this seminar, Grant Thornton’s Greg MacDonald will walk participants through the various SR&ED tax credit program criteria – the ins and outs of identifying SR&ED within your company’s R&D – so that you can clearly articulate it in your claim.
This seminar forms part of our Expert Education Program (EEP). The EEP is designed to deliver a range of value-adding educational roundtables, workshops and seminars to enhance the business skills of Canada’s bioscience and food entrepreneurs.
The Expert Education Program forms part of our Professional Service Provider Program, which provides support specifically to bio innovators and entrepreneurs.
Through the Professional Service Provider Program, Emergence has partnered with leading providers of professional financial, legal and IP services to support our clients’ growth.
About our Presenter, Greg MacDonald
Greg is an engineer with extensive experience in a range of industries including technology, food and beverage, and bio-pharmaceutical. In previous consulting roles, he has acted as an advisor for manufacturing companies; reviewing processes, systems and procedures to find opportunities for efficiencies and cost savings. In Greg’s current role as a senior manager with Grant Thornton LLP’s Tax Services group, he is trusted by clients across Atlantic Canada to help them navigate government tax credit and incentives processes, including the Scientific Research and Experimental Development (SR&ED) tax credit. Greg uses his experience as an engineer and business consultant to his client’s advantage; helping them source project funding and plan ahead, so their organization continues to grow and develop efficiently and sustainably.
About Grant Thornton
Grant Thornton’s advisory and tax professionals are passionate about helping bio companies succeed. The start-up and early growth phases are often the most difficult period and require the owners and managers to educate themselves about many areas of business including accounting and finance. Grant Thornton’s team enjoys educating clients about these topics and helping them comply with stakeholder requirements. Grant Thornton is one of the world’s leading organizations of independent assurance, tax and advisory firms with over 31,000 Grant Thornton people across 100 countries around the world.