If you look beyond the acres of new housing and on-going construction projects, you will see that this is also true of its economy.
The MEV Innovation Centre is at the nexus of this evolving economy. We are the primary co-working facility in the northern part of Halton Region. Our objective is to ensure that there is a robust eco-system of entrepreneurship in the community that acts as a driver of economic growth and prosperity. We believe that coworking offers an opportunity for entrepreneurs to reduce their isolation, be more productive away from home distractions, make connections with each other, pick up new ideas and tap into business support resources. All of this in turn, will allow them to better succeed at their business.
On October 13th, we will be working with Silicon Halton to explore how to better strengthen the link between coworking and economic/community development. Please join us at MEVIC on October 13 and tell us what you need for your business and your ideal working environment. Tell us your challenges and ideas – and help shape the direction of the Innovation Centre – so that we can align with your business or professional needs. In the end, it’s about empowering your business to grow, and enable you to do a better job.
Register here: www.siliconhalton.com/events
Einstein defined insanity as doing the same thing over and over but expecting a different result. In business, repetition of processes with the purpose of achieving the same result is the desired outcome. Standard results are valued as a predictor of success over random results achieved through inconsistent practices. Properly thought out and executed processes are the tools by which business operations can best position themselves for success. As an owner or an operator seeking a potential buyer, processes and procedures are integral and here’s why:
Review your business practices for consistent application of processes and examine how they flow together. Assume a staged, logical approach that takes into consideration the different functions and operational streams within your company but remember that you do not have to do everything at once.
For example, start with invoicing. Document how the invoicing system is currently being done and then look at it from a critical standpoint to identify how it can be done better. Consider what controls can be included to reduce the risk of errors or fraud. Conduct the same evaluation and documentation on your other systems, and continue to refine the procedures until everything has been reviewed. This approach will provide a valuable foundation for your business operations and a solid approach for continual improvement updates as the company evolves.
Einstein would be proud!
The Halton HiVE (Burlington HiVE's new name) has recently moved to an expanded location to 901 Guelph Line, Burlington – on the South-East corner of Guelph Line and Harvester, one block south of the QEW. The move was made possible as local entrepreneur and founder of the HiVE, Shaun Pennell, collaborating with leading property development and management company, Emshih Developments Inc.
The new space offers members free parking, reduced membership rates, more meeting rooms, large separate presentation room (suitable for 40 attendees), much larger games room with pool table, including significantly larger kitchen and lounge.. The new space also provides potential growth by 30% with the property’s 18,000 sq. footage (up from 6,000sqft) and a possibility to expand to 100,000 sq. feet. This is a creative office that already has a unique energy, and is bringing the community even more vibrancy and growth.
HiVE members often collaborate with one another, making the HiVE the home base where new and established businesses alike can grow and thrive. It is not unlikely to see two people who were once strangers, now working alongside each other as business partners, clients or mentors. With the rapidly growing community membership, there are far greater opportunities for successful businesses and the happy humans that run them.
Join the community with memberships starting at $29/month. The drop in rate is $30/day.
Halton HiVE is a shared co-working space, giving a working home to a community of entrepreneurs, freelancers, professionals and start-ups! The idea of the HiVE grew out of noticing the need to avoid the commute to Toronto and provide a creative place to work in the Halton Region. Halton HiVE is the connecting space that brings both talented people and ideas together.
Founded in 2013, is a growing and thriving community of tech professionals, startups, freelancers and entrepreneurs. We offer a shared office space that encourages professional growth and collaboration while learning from other creative professionals in a fun and light co-working atmosphere.
Kaylyn Gelata is the new, Community Manager at the, Halton HiVE
The Tax Court of Canada recently ruled in favour of Les Abeilles with respect to a SR&ED claim denied by CRA. We thought the decision was worth highlighting, and expect that this ruling will impact how CRA will test SR&ED eligibility going forward.
The case came to trial in July 2013 after CRA rejected the claim on grounds that none of the claimed work met the definition of SR&ED eligibility: the work undertaken was standard practice and/or routine engineering with no technological uncertainty, no technological advancement nor any systematic investigation. CRA also cited a lack of contemporaneous documentation to corroborate the claimed work.
On October 23, 2014, Justice Gaston Jorré allowed an appeal to the Tax Court of Canada (TCC) made by Abeilles Service de Conditionnement Inc. Abeilles is located in the east end of Montreal and is 49% owned by General Electric. The company manufactures electric motors and other component subassemblies such as heating elements, control panels etc. used in household appliances.
The following three rulings by the judge are contrary to the usual stance taken by CRA to reject a claim.
Technological Advancement: The Court ruled that research does not have to lead to technological progress for it to be SR&ED. Work undertaken in the interest of technological progress, even if it fails, can still qualify. Additionally, increasing the productivity and flexibility of a process can constitute technological advancement. In determining whether there has been experimental development, the Court stated that one must consider the project as a whole rather than looking at each individual test or step separately. This ruling contrasts with the approach taken by CRA.
Technological Uncertainty: Criteria of technological uncertainty can be met by the taxpayer not knowing how to achieve some goal that is very specific to its situation. This is a clear distinction from the statement "Technological uncertainties may arise from shortcomings or limitations of the current state of technology that prevent a new or improved capability from being developed. It is the "no shortcomings or limitations of the current state of technology" reasoning that CRA auditors all too frequently cite in their assessments.
Other findings of note with respect to eligibility are as follows:
The last part of the ruling would be interest to claimants familiar with the SR&ED audit process. CRA often uses internal staff as expert witnesses in court, including using the same staff members who denied the claim in question. In this case, the Court ruled that the CRA staff member appeared to be guided by CRA guidelines, including certain standards for proving facts which were not appropriate in his role as expert witness. The court found that the Crown's expert (a CRA employee) was not sufficiently impartial after the taxpayer objected that the he was not "independent". The court observed the expert's "confusion" between his duty to uphold the very CRA administrative policies that formed the basis of the original assessment and his role at court which is to "clarify" technical evidence so that the court can make its decision.