Outlook cloudy: with legislative changes, tougher audits and recent court rulings, nervous taxpayers may be wondering if they should undertake future R&D projects

Article Abstract:

Canadian investments in research and development may be hampered by stricter laws on R&D taxation. The legislation takes the form of new qualifications which define research and development activities, requiring such activities to have clear technological advancement implications to qualify for tax credits. While the law clearly states that qualification for tax credits in R&D spending must be supported by documentation, some cases may find merit in the depositions of expert witnesses, who can testify to the 'technological advancement' implication of the activity.

Research and Development in the Physical, Engineering, and Life Sciences, Commercial physical research, Research & Development-Industry, Taxation, Industrial research, Tax administration and procedure, Tax administration

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To the vendor go the spoils

Article Abstract:

The financial options for selling a business have become more difficult with three new developments; the February 28, 2000 Federal Budget, the October 18, 2001 Economic Statement and Budget Update, and the March 16, 2001 Notice of Ways and Means Motion containing legislative proposals. The tax implications for each are discussed.

Taxes, Business planning

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When is a sale not a sale?

Article Abstract:

Licensing transactions are different from a sale of property, and the tax obligations are treated differently based on the type of transaction. A licensing transaction is eligible as either income or a capital gain.

United States, Licensing agreements, Licencing agreements

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