Welch LLP

The federal expenditure limit is based on a corporation’s prior year taxable capital in Canada. If the corporation is associated with other corporations for tax purposes, the limit is based on the combined taxable capital of the associated group.

Taxable capital generally includes retained earnings, contributed surplus, and indebtedness, minus investments and loans to other corporations.

Under the new rules, the federal expenditure limit begins to phase out at $15 million in prior year taxable capital and is eliminated at $75 million.

Corporations with prior year taxable capital of $75 million or more can only claim the non-refundable federal ITC at 15%.

When it comes to the new SR&ED Expenditure Limit and Refundable Credits, the key takeaway is to be proactive in monitoring taxable capital and income to maximize refundable SR&ED credits.

Read more in our latest blog:

SR&ED Expenditure Limit & Refundable Credits in Canada Learn how Canadian corporations can maximize refundable SR&ED credits under federal and Ontario expenditure limits. Get expert guidance from Welch LLP!

After more than 45 years of dedicated service, Tami Foster has retired from the Belleville office.

Throughout her remarkable career, Tami was truly a ray of sunshine, bringing warmth, positivity, and energy to the workplace each and every day. Her contributions have left a lasting impact on partners, colleagues, and clients alike, many of whom will deeply miss her presence.

We are incredibly grateful for her years of commitment and the difference she made in our organization and community.

Congratulations, Tami, on a well-earned retirement. Wishing you all the very best in this next chapter!

Helmets to Hardhats is in search of a Director of Finance
📍 Canada | Nonprofit | Growth Stage Organization

Our client, Helmets to Hardhats Canada is a national nonprofit organization dedicated to connecting transitioning Canadian Armed Forces members, veterans, and reservists with meaningful careers in Canada’s unionized construction industry.

With a team of 12 and approximately $3M in annual revenue, the organization is entering a new and exciting phase of growth. To support this evolution, the Executive Director is seeking a senior finance leader to take full ownership of the finance function and build the financial infrastructure needed for long-term sustainability and expansion.

This role is ideal for a strategic finance professional who thrives in mission-driven environments and is motivated by the opportunity to shape and modernize an organization at a pivotal stage.

This role combines strategic leadership with hands-on ex*****on.

If you’re a senior finance leader looking to make a meaningful impact while playing a central role in an organization’s next chapter, this is a rare and compelling opportunity. Click here to learn more:

Helmets to Hardhats Canada - Director of Finance Salary Range: $120,000 – $145,000 Helmets to Hardhats Canada is a national nonprofit organization connecting transitioning Canadian Armed Forces members, […]