Alberta's Provincial #SRED is in transition. In 2019 Alberta's SR&ED program was cancelled, then a year later revised and re-launched in 2020 as the Alberta Innovation Employment Grant. As of January 1, 2021 (we will look at this in another episode but for now see: https://www.alberta.ca/innovation-employment-grant.aspx) companies will be eligible for this new program but for 2020 this cancellation has created a lot of confusion for companies. As such we wanted to do an episode of SRED From The Shed specifically on the provincial component of SRED for Alberta-based companies for 2020 The highlights?
The provincial program was in cancelled for the 2020 calendar year.
Some tax software hadn't (as at filming) been updated to compensate for this so manual adjustments need to be made.
If calculations are done/adjustments are made properly the Federal refund will increase slightly.
Please Share with Alberta-based companies and get involved in policy to help ensure this does not happen in other provinces.
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