FOR THE PROFESSION As CAs, we're a...

FOR THE PROFESSION

As CAs, we're always searching for opportunities to add value to our employers' businesses or provide additional services to our clients. Whether you work in or outside of public practice, your awareness of various direction programs and services could be of great benefit to your employer or clients.

While a certain quantity of programs and services focus upon particular industries, most are available to all sectors of the economy. Tax incentive programs and financing agencies are sum of two units such examples offered by the federal regulation that can make a significant difference to a business's bottom line and development

Scientific Research and Experimental progress to maturity Program

Members involved in the high-tech or biotech sectors may be interested to learn that the Canada Customs and reward Agency (CCRA) has revamped the Scientific Research and Experimental increase (SR&ED) Program. If your company mode of actions research and development work in Canada in order to bring to maturity or improve new products, processe or materials, it may qualify to receive an income tax restore and/or an investment tax credit.

For those of you daunted according to less than pleasant memories pf the aged Scientific Research Tax Credit program, CCRA promises that the popular program is more efficient and user-friendly. At the April 2002 CCRA Pacific R&D Partnership discourse three companies that had taken advantage of the program moveed testimonials about the tremendous impact of the SR& tax credits upon their growth. According to united of the speakers, the required documentation was not overly heavy The speaker suggested that CCRA would bewilder very few questions as prolonged as the documentation were prepared to the same standard as it would be if the research were being careered on someone else's behalf for a unconditional tenure

CCRA provides three different clear services to help claimants from one side the claim process you solely have to request the services. CCRA staff will plane visit your office to answer questions. In addition to the federal program, the provincial rule provides similar tax credits for research and unfolding expenditures made in BC, and because the provincial program is also administered by way of CCRA, your company only has to make progress through one claim review proces

Western Economic Diversification

Even if your company doesn't leadership research and development, there are still many restraint programs that you may find beneficial. Western Economic Diversification is a federal department with a mandate to help with the shooting of the western Canadian economy. "WD" as the department is called, provides loan programs and specialized funding programs for small businesses in one as well as the other traditional and new economy sectors. WD helps businesses export their produces and services and sell to all flats of government, whether at dwelling or abroad. WD also furnishs guidance on how to access other conduct programs and services, including evaluation and assessment services, at reduc recompenses

Business Development Bank of Canada

If your company is looking for financing, the Business progressive growth Bank of Canada is an alternative to commercial lending institutions. be in possession ofed by the government of Canada, the BDC's part is to deliver financial and management services to small Canadian businesses. It tenders a range of products for small to medium-sized businesses-anywhere from $25000 start-up loans to $5 million chance capital financing.

Other sway services

Various federal regulation departments operate a number of websites to support Canadian business and trade. They include the following:

* BusinessGateway proffers information on starting and running your business. The site includes electronic forms, business tools, and dominion contacts.

* Strategis proposes information on exporting, financing, and growing your business. The site also has online tools to help you measure your company's financial performance against industry benchmarks.

* Agri-Food Trade Network proposes international trade and market information for agri-food exporters.

* Canadian Technology Network propounds access to advisors across the geographical division to assist you with technology and related business questions.

The programs mentioned above are just a sample of the wealth of information and services available from the federal control for small to medium-sized businesses-they may not be suitable for everyone as a certain are targeted at specific economic sectors. Members are encouraged to visit the various websites to learn to what degree their companies or clients can take advantage of available resources. All the sites have links to related organizations and services.

Whether working with a company internally or externally, CAs are the business advisors of choice. Bearing that in mind, be permanent you fully explore how to best further the growth of your employer or clients' businesses.

Web Links:

SR&

www.ccr-adrc.gc.ca/sred

BC SR&

www.rev.gov.bc.ca/itb/sred

Western Economic Diversification

www.wd.gc.ca

Business progress to maturity Bank

www.bdc.ca