The Scientific Research and Experimental Development (SR&ED) Grant Program is a federal tax incentive program aimed to encourage Canadian firms of all sizes and sectors to do industrial R&D in the country.

The Canada Revenue Agency (CRA) administers the program, which provides SR&ED grant tax incentives in a timely, consistent, and predictable manner while encouraging businesses to prepare claims under Canadian tax laws and CRA policies and procedures. This government grant can help many firms working on advancing science and technology who are looking for a research grant to fund their project in Canada. Whether you are an IT firm, a food processing company, engineering company, your business may be eligible to apply for SR&ED.

When it comes to saving money and getting a tax break, there are several options to choose from, and TFSA and RRSP investments are at the forefront! If you have a sufficient flow of income, investing in both options can multiply your saving and tax benefits. However, if you find it challenging to invest in them together, you’ll need to choose between the two.

Filing tax returns either as an individual or on behalf of your business can be a time-consuming and challenging affair. To make this process more manageable and ensure that you avoid tax return mistakes that could cost you a hefty sum of money, it’s advisable to enlist the services of an experienced Chartered Professional Accountant to assist you in filing your tax returns. To ensure that you file your tax returns correctly, Sabeeh Naseer, Chartered Professional Accountant has listed five tips to help you with your tax returns. Keep reading to know what they are.

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