Helping Our Clients Secure SR&ED Tax Incentives
Every day you work hard to out-maneuver the competition. You develop new products, enhance processes, face new challenges and find creative solutions to your customers’ problems. These activities may qualify for the Government of Canada’s Scientific Research and Experimental Development (“SR&ED”) incentive program. SR&ED is an incentive program through which the Canadian government encourages businesses to conduct research and development. SR&ED is available to both small and large businesses in all industries in Canada.
Recover 35%+ Of Eligible Costs
The SR&ED program entitles companies to claim a material 35%+ of eligible expenditure for a cash payout or tax reduction. Canadian Controlled Private Corporations (CCPC’s) receive preferential treatment under the SR&ED program. For example, when including overhead recovery in Ontario, a CCPC may recover:
- 73% of qualifying labour expenditures
- 44% of qualifying material expenditures
- 44% of qualifying contractor expenditures
The SR&ED incentive program is not just available to research-intensive industries. It is generally available to any Canadian company facing technical uncertainties where certain criteria are met. Whenever you create new or improve existing products, processes, principles, methodologies or materials, you may be eligible for SR&ED if certain criteria are met. Our team of experts can help you decipher the SR&ED program and submit claims with a high probability of success. Please contact us to learn more or visit our FAQ page for more details.
Many Types Of Work May Qualify For SR&ED
SR&ED-eligible projects encompass efforts aimed at addressing technological challenges or uncertainties when existing solutions are inadequate. To qualify, such work must enhance scientific or technological comprehension, tackle uncertainties in these domains, and involve a methodical investigation conducted by qualified personnel.
Tasks eligible for SR&ED involve
Experimental development to create new materials, devices, products, or processes (or improve existing ones)
Applied research conducted with a specific practical application in mind
Basic research to advance scientific knowledge without a specific practical application in mind
Support work (including engineering, design, operations research, mathematical analysis, computer programming, data collection, testing, psychological research, etc.)
How can we help?
Our team of professionals will assist you in deciphering the CRA’s rules and navigating your Scientific Research and Experimental Development (SR&ED) claims so that the process is hassle-free. Not only will we guide you through the initial application process, but we will also assist with any post-filing appeals.
Our Process includes
Conduct an initial informal assessment to see if your project may qualify for SR&ED
Interview your staff to identify projects that may meet the CRA eligibility criteria
Gather data for SR&ED reports from your team efficiently
Prepare a technical SR&ED report which summarizes how your claim meets the SR&ED eligibility criteria
Complete all prescribed CRA forms required for a successful SR&ED claim
Coordinate with your accountant to identify costs associated with the projects
Provide value added advice on your overall SR&ED strategy