1.
Time Tracking for
SR&ED Claims 101
October 23, 2014
In Partnership with Launch Academy

2.
WHO WE ARE
 Engineers and financial professionals
 Technology-first approach to SR&ED
 Professional Services Firm of the Year

3.
SR&ED ELIGIBILITY

4.
WHO CAN CLAIM?
 CCPC = Canadian Controlled Private
Corporations
 Non-CCPC = Foreign or Publically
Owned Corporations
 Partnerships

5.
CCPC AND SME
 SME = Small to medium sized enterprise generating less
than $500K in taxable net income in the prior fiscal year
 ICTs are refundable ($$$)
* Salaries and sub-contractors MUST be Canadian tax payers

6.
THE DO’S AND DON’TS
Do’s for Companies:
 Pay yourself and staff
 Start time tracking and proper
documentation now
 Incorporate your company and
ensure clear IP ownership

7.
THE DO’S AND DON’TS
Don’ts for Companies:
 Underestimate the importance
of documentation
 Focus on the business
opportunity
 Leave your SR&ED claim until
the last minute

8.
CRA REVIEWS
CRA Review ≠ Tax Audit
Multiple types of CRA Reviews:
 First Time Claimant Advisory Service (FTCAS)
 Desktop
 Financial
 Technical & Financial

9.
DOCUMENTATION - TECH
 Documented at the
time the work was
completed
 Technical obstacles
or challenges
 Dated

10.
DOCUMENTATION - TIME

11.
TIME TRACKING
Key Points for Tracking
 Granularity of time
 Normalizing your hours
 Self-limiting descriptions /
estimates
 Supporting activity vs directly
engaged

12.
TIME TRACKING TOOLS
 Replicon (http://www.replicon.com/)
 Greenhopper (http://www.atlassian.com//)
 VersionOne (http://www.versionone.com/)
 Basecamp (http://basecamphq.com/)
 Harvest (http://www.getharvest.com/)
 BillQuick (www.bqe.com)
 Tenrox (www.tenrox.com)

13.
ISSUE TRACKING TOOLS
 GitHub
 Assembla
 Bugzilla
 FogBugz
 JIRA
 Redmine

14.
DOCUMENTATION - $$$

15.
EXPENDITURES
Types of Payroll:
 T4 wages / part-time
 Contractor payments / invoices
 Cancelled cheques / proof of
payment
 Income tax treatment
 Dividends / shares / sweat
equity

16.
HOW WE WORK
 Contingent
 Scope your claim upfront and invoice when your claim is
successful
 Efficient
 Only require interviews & documentation
 Proactive
 Ongoing engagement and future recommendations

17.
WHY WORK WITH US
 Highly reputable
 Technology-focused
 Efficient
 Well-connected

18.
JAMES SUK
PARTNER
604 779 7770| jsuk@boastcapital.com
BoastCapital.com | @BoastCapital | @jimmyzook
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