SR&ED Tax Credits: Increase Your Cash Flow & Reinvest In Your Business

Unlock the Benefits of Canadian SR&ED and R&D Tax Credits with Professional Assistance

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Canada's SR&ED program provides generous tax incentives for businesses who engage in scientific research and experimental development activities. By claiming these tax credits, you can increase your cash flow, maximize your investment, reinvest in new projects, and increase your financial gains and grow your business.
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What is SR&ED?

The Scientific Research and Experimental Development (SR&ED, SRED) program is a government-funded incentive that helps businesses offset costs associated with research and development. It works by providing tax credits for businesses who are working to uncover new scientific or technological knowledge, or to develop and improve products and processes. You don’t need to have scientists or PhDs to qualify for SR&ED credits – even custom IT work can make you eligible. In fact, 98% of credits are awarded for experimental development work. If you’re investing in proprietary knowledge and best practices, you may be able to get a portion of that money back through SR&ED. Even if your project didn’t succeed, you can still claim SR&ED credits as long as you took the necessary steps to try and resolve a valid scientific or technological roadblock. So don’t worry if you’ve encountered a setback – you may still be able to recoup some of your losses

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Incredible for Canadian
Controlled Private Corporations (CCPCs)

Small and medium-sized businesses in Canada, or Canadian Controlled Private Corporations (CCPCs), are eligible to receive refundable credits through the SR&ED program. This means that instead of deducting your credits from taxes payable, you can get your money back in the form of cash - up to 65% of each dollar of eligible payroll! Plus, you get your refund within 60 days of filing with the Canada Revenue Agency, making it easier and faster for startups or businesses without a tax balance to benefit from SR&ED. Don't miss out on this great opportunity - unlock the potential of SR&ED and put your business on the path to growth and success.

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What works are qualified?

Are you a software developer and wondering if any of your work qualifies for SR&ED? Here are some examples to help you decide. If your software lead could present a talk or paper at a technical conference related to the project's topic, chances are it is SR&ED qualifying work. If there is risk of the project failing for technical reasons, such as integration of two different platforms or environments, this is probably qualifying work. Additionally, if you are developing tools to automate a set of tasks or jobs for customers, this is likely qualifying work. Lastly, if you are developing code to operate within a technological constraint, such as response time under load, and need to test the app to see if it meets the technological constraint, this is probably SR&ED qualifying work.

If you are in a manufacturing, engineering, or product development field, SR&ED qualifying work is easier to identify. If you are carrying out prototyping work to test an MVP against technical requirements or objectives, this is likely SR&ED. In addition, if you are undertaking systematic testing or investigation to overcome a technical problem in the production process, this is likely qualifying work. Businesses in retail, legal, marketing, sales, or distribution activities may not have the ability to make a SRED claim. However, many other industries are eligible to receive SRED credits, including software, manufacturing and process companies, start-ups, wineries, and green firms. Additionally, technical verticals such as agriculture, food production and engineering service companies often have SRED-claimable work, yet may be under-claiming.
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Be On-time

Maximise your cash flow with SRED credits! Don't miss out on the opportunity to claim your SRED credits by the June 30th deadline. With a December 31st year end, you could be missing out on tens or hundreds of thousands of dollars in potential savings. Don't wait until the last minute – explore your options now and ensure you take advantage of this lucrative tax credit.

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How we work

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Are you wondering if your business could be eligible for SR&ED money? We can help you find out with a free, no-obligation introductory call. Our expert will assess your company's situation to determine if the SR&ED program is a good fit for you. There is no cost or obligation to you – just the opportunity to learn more about this valuable program. Contact us today and take the first step toward discovering if SR&ED can benefit your business.

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Once the proper timeframe has been established, it is time to gather the details of your qualifying work and break it down into individual projects for each fiscal year. A written description of how your work meets the technical requirements for SR&ED is necessary but must be completed in less than 1400 words per project. We are here to help you prepare your claim by assigning allowable payroll, material, and subcontract expenses to each project.

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Once you submit your SRED claim, the government will send a technical and financial reviewer to review your claim and make sure it meets SRED standards. This process typically takes around half a day to a day, and we will be with you throughout the review to provide education and guidance.

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Once your SRED claim has been approved, the credits will be transferred to your business bank account within a month. At that point, you will be billed a fee based on a percentage of the cash obtained. We can make SRED documentation an integral part of your regular workflow. Our team will help you to ensure that you are filing SRED claims successfully on an annual basis, which will then be included as part of your T2 tax return. Get the most out of your SRED credit today!

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Address: The Regent, Vancouver, BC, Canada
Tel: +1 236 889 5359

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