Archive for Month: August

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SRED tax credits (Scientific Research and Experimental Development) upheld by Tax Court of Canada against Canada Revenue Agency, in Canafric Inc. v. The King 2023 TCC

Introduction – Research and development tax expenditures and credits The rules regarding SR&ED claims are set out in various parts of the tax act. Section 37 allows for the deduction of SR&ED expenditures while section 127 allows for taxpayers to claim ITCs for SR&ED.  Through amendments in 1944 to...

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Canadian taxpayers must respond to CRA about assessments, reassessments, confirmations by the deadline: Oliveira v. The King, 2023 TCC

Oliveira v. The King (“Oliveria”) demonstrates the need for taxpayers to diligently follow the deadlines stipulated on the notices received from the Canada Revenue Agency (“CRA”). Deadlines stipulated on notices of assessments, reassessments, or confirmations are based upon Canadian tax legislation i.e., the Income Tax Act (“ITA”) and the...

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