Most Canadian controlled private corporations performing “SR&ED” are eligible to receive a tax credit in cash equal to 64.325 cents on each dollar of eligible salaries for eligible employees and 32.163 cents on each dollar of eligible contractor payments.
To determine if your project meets the SR&ED eligibility criteria and to calculate the amount of the SR&ED credit refund, complete the following two CRA questionnaires or contact us and we will provide you with a complimentary evaluation:
In summary, your project qualifies as SR&ED if your answer “yes” to each of the following five questions:
- Was there a scientific or a technological uncertainty?
- Did the effort involve formulating hypotheses specifically aimed at reducing or eliminating that uncertainty?
- Was the overall approach adopted consistent with a systematic investigation or search, including formulating and testing the hypotheses by means of experiment or analysis?
- Was the overall approach undertaken for the purpose of achieving a scientific or a technological advancement?
- Was a record of the hypotheses tested and the results kept as the work progressed?
Our SR&ED Services
- We help you navigate through the complex rules and requirements under the SR&ED program.
- We take the uncertainty away from the filing process and have a time-proven methodology that minimizes the impact on your work schedule.
- We write the project description and compile the costs from information you provide us.
- We update the relevant tax schedules on your corporate income tax return to make a claim. We coordinate with your accountant to file the tax return with the CRA in prescribed manner. The filing deadline is 18 months from your fiscal year-end.
- We provide you with complete and proactive support during a potential CRA review. We have a reputation with the CRA for filing eligible claims within the letter and spirit of the SR&ED legislation. We work with the CRA reviewers in a cooperative and professional manner. Some of our consultants were former CRA reviewers.
- We provide training on gathering and maintaining proper cost and activity documents to support your future claims. We help you automate your labour time tracking on SR&ED activities using your current project management software such as JIRA, Trello, or GitHub to save you time compiling your claim at time of filing and to ensure your claim is complete and accurate.
- We charge a success-based fee. You only pay us when you receive the tax credit.
We want to hear from you.
Contact us for a complimentary evaluation of your project for SR&ED eligibility and the amount of potential tax credits you can claim. We are here to help.