Yes friends, this is the headline:
“CEWS EATS 2020, ’21, ’22 SR&ED AND BRITISH COLUMBIA”
So…what the heck? Why am I the only person, really red in the face, waving, shouting loudly, and bouncing up and down?!
I see my wife looking at me funny. Ok, fine, it might not be the first time in history I’ve bounced up and down and shouted… Whether attending sporting events or checking the latest handy CEWS scoreboard, updated at least bi-weekly by the feds, my reaction is largely the same.
Back to the topic at hand,
The entire British Columbia provincial budget for 2020 is $60.058B. The aforementioned CEWS scoreboard, as of December 24, 2020 is already at 55.42 billion!
$55.42 billion! So, by this week’s update, or at the latest the January 18/21 update, CEWS will have eaten the entire British Columbia Fiscal Year 2020 provincial budget!
Half of the 3 billion annual SR&ED claims is a rounding error. But that rounding error could be tens to hundreds of thousands of dollars for your business. G6 Consulting has released Canada’s first CEWS-SRED calculator. We can’t save Howe Street. But we CAN save your 2020 (and 2021+) SRED claims. Call us.