Can public companies with losses still receive cash returns?
In certain provinces, public companies are still elgible to receive cash as a part of their SR&ED return. For example, in Ontario, depending on the amount of capital, an organization may still be eligible to receive the provincial portion of its return in cash. Although the OITC is 10%, through the addition of the proxy amount for overhead, and the federal/provincial refund split, almost a third of return can be refunded as cash in Ontario. Alberta (starting Jan 1, 2009), Quebec, New Brunswick, Newfoundland & Labrador and Nova Scotia provincial governments also give public companies cash returns. To determine if your publicly traded corporation meets the criteria to receive provincial cash returns, please contact us.
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