Tax services | Scientific research and experimental development

Developing or improving a process, product, material or device? There may be cash available to you in the form of SR&ED tax credits—they’re not only for research companies.

Successful filing of eligible SR&ED claims keeps more cash in your business.

What is it?

The SR&ED program is a tax incentive offered by the Canadian federal government to encourage and support Canadian innovation. Several provinces also offer similar programs. Simply put, successful filing of eligible SR&ED claims will mean more money for your business.

Who qualifies?

All businesses conducting research and development activities that lead to technological advancements resulting in new or improved products, processes, devices or materials. Manufacturing and hi-tech companies often carry out activities that qualify for this tax credit. Are you developing prototypes, creating custom machinery or using new materials? Are you creating innovative software, e-business solutions or web-enabled applications? If so, you may qualify to claim SR&ED tax credits.

What do you need to know?

The tax filing deadline is tight—18 months after the year-end in which the SR&ED expenditures are incurred. If you miss the deadline, your ability to claim SR&ED tax credits for that year is lost. The process is complex and includes submitting detailed project descriptions to the Canada Revenue Agency (CRA). The CRA then assesses the technical content to determine if the project qualifies for the tax credit.

How we can help

Your focus should be on your core business. Our SR&ED professionals are a highly trained team of practitioners, engineers and scientists who can not only determine if you’re eligible, but can also help you to maximize your tax credit opportunities. We can also assist in implementing processes that will help your business capture SR&ED-related expenditures for future claims.