Sunday, December 15, 2019

New SR&ED credit writing initiative launched to boost innovation in the Canadian construction industry

 

 

OTTAWA, November 25, 2019 – In an effort to encourage and boost innovation within the industry, Canadian Construction Association (CCA) and Canadian Construction Innovations (CCI) are delighted to announce an exclusive partnership with Invennt Business Inc. to offer the Scientific Research and Experimental Development (SR&ED) credit writing services to the industry.

SR&ED credit is a federal tax incentive program designed to encourage Canadian businesses of all sizes and sectors to invest in innovation.

The program and its allocated funds are governed and distributed by the Canada Revenue Agency (CRA). For this reason, it’s important for businesses to have expert assistance in preparing and filing their claims in compliance with both Canada’s tax laws and the CRA’s established filing process.

An industry first, this new benefit will offer CCA members the opportunity to file claims for SR&ED tax incentives without the hassle and upfront cost of hiring additional experts, saving valuable time and resources.

“Our goal is to promote and drive innovation in the industry, and this new valued service will make it easier for our members to have a better chance at getting a SR&ED credit,” said Mary Van Buren, CCA president.

“We are thrilled to launch this partnership with Invennt to help and encourage our members to further their innovation goals,” added John Bockstael, CCA chair. “The SR&ED credits will help the industry to remain competitive, grow and to reinvest to promote innovation.”

CCA and Invennt have identified an opportunity to grow SR&ED claims from the current 0.7 per cent to close to 7 per cent, which would bring it in line with the industry’s share of the Canadian economy. The service will be offered to members through their respective local construction associations.

For more information on CCA SR&ED writing service or to download a guide visit: cca-acc.com/sred

 

About CCA and CCI

Across Canada, CCA represents more than 20,000 member firms drawn from 63 local and provincial integrated partner associations. CCA gives voice to the public policy, legal and standards development goals of contractors, suppliers and allied business professionals working in, or with, Canada’s non-residential construction industry.

CCI was established by the Canadian Construction Association with the mandate to lead innovations for the industry. CCI enhances industry-wide collaboration for innovation to improve the industry’s productivity, safety, profitability or contribution to building sustainable communities.

www.cca-acc.com

About Invennt

Invennt is an international business consultancy with Canadian operations that help construction and related businesses of all sizes– including developers, contractors, architects and engineers – to develop, support and execute major construction projects. The company specializes in helping businesses gain greater value from their investment in the industry and offers expertise in strategic advice, operational improvement and business development services. Invennt is a proven leader in SR&ED tax credit and has a solid track record on helping numerous companies of all sizes make substantial claims.

FREE WEEKLY NEWS SUBSCRIPTION

Subscribe to our FREE online news service dedicated to producing essential up to date news for the construction, building, and design community.