What if someone said you could do innovative R&D on a shoestring budget? In Canada, your hard work can turn into tax credits-- real money-- returned to you for the experimentation, research and development expenses your company incurs. It's a secret well of cash that's sitting out there in the open for you to dip into. Unlike grants and special programmes, this is an ongoing program offered by the Canadian Revenue Agency. We know how to identify expenses and make SR&ED claims. Costs spent to resolve technical challenges as well as money spent to research can turn into a cheque from the Government of Canada.
Just What is SR&ED
There is a federal definition of Scientific Research and Experimental Development ("SR&ED") eligible work. Federal legislation contained in the Income Tax Act defines these:
- Work carried out using science and technology to propel your business processes and the field of research.
- It's basic research: work undertaken to advance scientific knowledge even before a specific practical application in view
- It's applied research: advance your scientific knowledge with a specific and practical goal intended
- It's experimental development: trial and error is applicable work. It's work undertaken to achieve technological advancement that creates or improves materials, devices, products, or processes. Even work in progress-- multi-year projects-- are eligible
- SR&ED can include work in the fields of engineering, design, operations research, mathematical analysis, information technology, data collection, and psychological research
Examples of SR&ED-eligible activities:
- experiments and analysis
- design, analysis, data collection, and research
- technical support that propels the research and development.
- preparing technical documentation for internal use
- preparing equipment & materials
- the direct supervision of employees by non-research/non-technical employees
Our Specialties
- We work with IT companies, especially web development houses.
- We have prepared numerous successful tax credits.
- We find the eligible expenses associated with your projects and turn them into eligible expenses that will yield your company money.
- Rather than try to fathom how to identify expenses and prepare tax credits, we handle all of that through project reviews and a financial review of your spending in relation to eligible projects.
