SR&ED Tax Credits
What is a SR&ED tax credit?
The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive program administered by the Canada Revenue Agency.
The program allows Canadian businesses of all sizes and in all sectors to reclaim costs associated with research and development in Canada that leads to new, improved, or technologically advanced products or processes.
These tax credits can be received as cash refunds or applied to reduce your corporation tax liabilities. Any unused credits can be carried back 3 years or carried forward 20 years.
Challenges in claiming the SR&ED tax credit include knowing how to qualify and quantify the work. This is where FundRight can help!
What businesses are eligible for SR&ED tax credits?
Businesses must have work performed in Canada for the purpose of achieving technological advancement through a systematic investigation by qualified personnel.
The rules involved in claiming SR&ED expenditures and related investment tax credits are quite complex, it may not always be easy to understand if your company’s projects qualify.
What does it cost to file for SR&ED tax credits?
There are no fees to file for SR&ED.
The fee to FundRight only applies when you are awarded your tax credits. No up-front fees!
Process starts with a free assessment to determine if your business qualifies. After that, we do all the work - from claim strategy, technical report preparation, costing and submission of tax schedules and any audit support – until you are awarded your SR&ED tax credits!
We stay engaged throughout the year to ensure we can provide you with claim guidance and support along the way. Call us today and we can walk you through the process.
