🚀 Are you operating or planning to relocate your manufacturing business to Ontario? If so, you can receive up to $1,500,000 in grant funding! Let’s dive into Ontario’s Advanced Manufacturing and Innovation Competitiveness Stream (AMIC) and how it can benefit your business. 1️⃣ What is the AMIC Program?Ontario's AMIC program is designed to enhance the competitiveness, innovation, and job creatio..

General Show how you arrived at the claimed amounts on T661 List of items and amounts claimed, invoices, rationale Provide proof of payment Salaries and Wages Separate SR&ED from non-SR&ED time Need to know what was done and by who for SR&ED Hours claimed for specific activities – weekly increments Materials Rationale Contracts Details of work done, IP ownership

Overhead Cost Proxy method Estimation method - 55% of salaries or wages claimed Easier than Traditional Method Can be more generous than accounting methods Overhead Cost Traditional method Exact accounting method Directly related to conducting SR&ED that would not be incurred if SR&ED was not conducted - incremental Directly attributable to providing premises, facilities or equipment to conduct ..

Payment to specific Canadian corporations and tax-exempt entities, including universities and research institutes, is included. The payer can benefit from the results and receive early notifications but cannot control the work being conducted.

Contract Expenditures SR&ED on your behalf, related to your business and conducted in Canada Taxable suppliers Arm’s length Non-arm's length - individuals are those who collaborate with shared interests or have a family or business relationship

Materials definition All the raw materials, substances, or items that constitute the body of a thing at a specific point in the SR&ED process are eligible for inclusion in your SR&ED expenditures, including items such as: Consumables, like lab supplies and test materials Raw materials used to create prototypes Prototype materials Testing and measurement equipment Materials for systematic experim..