Over 4 $Billion is refunded each year.
Are you getting your fair share?
Do scientific and technological advances help fuel your company’s competitiveness? Wish there was a way you could get back some of the money you’ve invested in R&D and innovation?
The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive program, administered by the Canada Revenue Agency, that encourages Canadian businesses of all sizes and in all sectors to conduct research and development in Canada that will lead to new, improved, or technologically advanced products or processes. The SR&ED program is the largest single source of federal government support for industrial R&D, providing over $5 billion in investment tax credits to over 18,000 claimants each year. Of these, about 75% are small businesses.
If your company qualifies, you may be eligible to get money back in the form of a refund, a reduction in taxes payable, or both, for expenditures such as wages/salaries, materials, machinery, equipment, overhead, capital expenditures, third-party payments, and SR&ED contracts. Certain expenditures for SR&ED performed outside of Canada are also permitted.