Canada's 2017 Innovation Budget Released


The 2017 Federal Budget Plan was released yesterday and in terms of innovation significant changes appear to be on the horizon. Titled "Canada’s Innovation and Skills Plan" the Government describes it as "an ambitious effort to make Canada a world-leading centre for innovation, to help create more good, well-paying jobs, and help strengthen and grow the middle class."

On the horizon is a whole-sale review of Canada's innovation strategy and the way its delivered. It appears that Canada's innovation programs will be centralized in one area serving "as a one-stop-shop for Canada’s innovators. Accordingly, “Canadian innovators and entrepreneurs will no longer need to spend time figuring out which department to go to or which program best meets their needs.”

The government also plans to review "the Scientific Research and Experimental Development tax incentive program to ensure its continued effectiveness and efficiency." It's unclear if the SR&ED program will be a part of Innovation Canada. This would require a major shift of resources and infrastructure from Canada Revenue Agency. Nevertheless, we believe the Government’s apparent commitment to ensuring the SR&ED programs "continued effectiveness and efficiency" is a positive sign for Canada's innovators.

As you are aware, there are plenty of SR&ED program critiques, for valid reasons and some not so much. However, as SR&ED consultants and SR&ED claimants ourselves, we see first hand the boost SR&ED funding provides. We serve companies involved in robotics to drones, industrial design, software development and weapons technology, to name a few. All are innovating and utilizing SR&ED funding to grow their projects and hire resources to aid in achieving success.

And with our market leading contingency rates, made possible through low overhead, we ensure our clients are successful with their SR&ED claims and that they receive the benefit of the funding so that they can continue to innovate and grow Canada’s economy.

More of the budget plan at the links:


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