"Deconflicting CEWS and SR&ED funding received is so complex that without specialized software, Canadian businesses stand to lose 65% of their SR&ED funding compared to just 5 to 15% they would lose with our software," says Greg Hills, CEO at G6 Consulting Inc.
The CEWS impact on SRED tax credits is a pressing issue with many companies preparing to file their 2020 tax return previously unaware of the claw back until the Canada Revenue Agency announcement last week. Being the largest R&D tax credit program in Canada, the claw back of SRED credits will have a significant impact on Canadian businesses.
Canada's first CEWS-SRED calculation software will solve the following problems for firms' fiscal year 2020, 2021 and possibly 2022 tax returns:
- Reduce claw back of SRED credits as a result of CEWS monies received
- Produce a perfect dollar figure of monies to be deducted from SRED tax credits on year-end tax return
- Deliver detailed documentation proving said figure
- Save time and inefficiency of manual calculations
Canada's first CEWS-SRED calculation software - enterprise edition, housed in Google Cloud will be available starting March 18th 2021. For more information on the software, visit g6consulting.ca/cews-sred/
About G6 Consulting Inc: G6 Consulting Inc is the market leader in consulting Canadian businesses about R&D tax credits. Comprising some of the best Ph.D.'s, engineers, and developers across Canada, G6 is relied upon to assist Canada's top companies secure SRED R&D tax credits.
SOURCE G6 Consulting Inc
Michael Austin, G6 Consulting Inc, (905) 483-6459, [email protected]
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