Utilize CRA Guidance Documents To Increase Claim Value
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The legislation governing the SR&ED program is highly complicated and often leaves many—including professional accountants and engineers—confused about the program’s multiple interpretations and what it takes to file a successful claim.
The CRA does not make the law: in addition to administering the SR&ED program, they merely interpret the law the way that you or anyone else does. Having said this, understanding and applying the CRA’s guidelines as contained in their own technical bulletins or guidance documents is very useful in generating a defensible position while establishing the value of an SR&ED claim.
Unfortunately, it is common for companies to claim SR&ED for decades without ever acquiring an in-depth understanding of CRA’s position on certain matters. This is particularly true when it comes to establishing the quantum of an SR&ED claim.
Expert legal and tax advice is crucial to any company trying to claim, under the guidance of the law, what they are entitled to.