R&D is necessary to keep up with and surpass your competition, but it is expensive. Fortunately, the Canadian government provides an innovation tax credit, known as SR&ED, to help offset the high cost of R&D and encourage Canadian-based companies to innovate.
You can recapture up to 64% of qualified expenditures that advance technology in some way. In most cases the recapture is provided in the form of a cheque from the Canadian government that the corporation can spend however it deems fit, including further R&D.
Like any government program, there are numerous rules and unwritten best practices to be followed to qualify the SR&ED filing and reduce the chances of an audit. That is why SR&ED Clinic is here to assist you with your SR&ED filings, saving you a great deal of time and effort and ensuring the claim is solid and correctly prepared.
Benefit from extensive SR&ED filing experience and deep knowledge of the program across a wide range of industries including software, manufacturing, biomedical and others. SR&ED Clinic provides a comprehensive service which includes:
- Determining which of your R&D activities qualify as SR&ED-eligible activities.
- Identifying support work which can greatly expand eligible expenditures.
- Writing the reports that explain how your SR&ED projects meet the program requirements.
- Determining eligible expenses and calculating the size of your SR&ED claim.
- Assisting you with more complex situations such as collaborations or changes in business structure.
- Defending your claim in the case of an audit.