At AVINOVA, we are dedicated to helping our clients maximize their access to subsidies and tax credits to support the growth and success of their businesses. We take pride in the results we have achieved for our clients across a diverse range of industries. Here are a few examples of how we have helped our satisfied clients reach their goals and bring their projects to fruition:
A manufacturing company that specializes in creating intelligent machines for the food industry sought assistance from AVINOVA to maximize their returns on available grants and tax credits.
Prior to AVINOVA’s involvement, the company was only claiming $125,000 in SR&ED credits. However, after just one meeting with AVINOVA’s experts, the company was able to double their SR&ED credit claim to $250,000 annually, and also became eligible for a skilled trades tax credit of $100,000 annually.
Additionally, the company wanted to implement a new ERP system and AVINOVA’s process enabled them to claim a subsidy of 40% of the project expenses ($50,000) as well as another subsidy of 50% of the staff training costs following the ERP integration.
Through AVINOVA’s expertise, the company was able to claim over $400,000 in subsidies and tax credits, significantly increasing their projected returns from the initial $125,000.
This highlights the importance of utilizing the expertise of professionals to fully take advantage of all available financial incentives.
Before AVINOVA’s assistance, many businesses operating in the field of information technology were only claiming the SR&ED tax credit, which while attractive, may not be the most advantageous option for companies primarily focused on developing software that improves their customers’ business processes.
AVINOVA’s added value brings an exceptional outcome for these companies, by providing the SR&ED tax credit services along with the other financial incentives. Thanks to the expert advice from the AVINOVA team, several companies are now in a position to claim over $400,000 each with the TCEB in Québec and combined with the SR&ED tax credits at the federal level. Our experts have also improved their clients’ returns by claiming various subsidies for hiring and training purposes.
Moreover, AVINOVA has been able to assist these businesses by identifying subsidies that would reduce the cost of business management software such as ERP, CRM, etc. for their potential buyers. This not only helps them to claim more financial incentives but also makes their software more affordable for the potential customers. In short, AVINOVA’s SR&ED tax credit services are not just limited to SR&ED tax credit, but it also includes other financial incentives, subsidies and tax credits that can help the business to grow more efficiently.
Video game Industry:
Before AVINOVA’s assistance, a Montreal-based video game development company had a team of 50 developers and was primarily utilizing the Multimedia Titles tax credit.
This tax credit is provided by the Canadian government to the companies in the multimedia industry, which includes video game development.
The credit covers up to 37.5% of labor expenses, which includes the salary and wages of employees involved in the development of the video game.
AVINOVA’s added value brought a significant change in the company’s financial incentive claim.
Our experts conducted research and identified the company’s eligibility for the SR&ED tax credit, which is a federal tax incentive program that encourages Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada. The program provides eligible companies with tax credits that they can claim to offset their R&D expenses.
As a result, the company was able to claim two fiscal years (one amended and one regular), generating over $600,000 for R&D work carried out during the development of their video games. Unfortunately, if AVINOVA had been introduced to the company earlier, they could have been claiming the SR&ED credits for at least eight years, which would have been much more beneficial for the company.
Moreover, AVINOVA’s team identified the company’s eligibility for an exportation subsidy program.
These programs are provided by the government to support Canadian companies in exporting their goods and services to foreign markets.
As a result, the company was able to expand their video games to the European market, thus generating a return of $75,000 per year. This not only helped the company to claim more financial incentives but also helped them to expand their business to a new market.
In short, AVINOVA’s expertise not only helps the company to claim more financial incentives but also helps them to explore new opportunities for their business, by identifying the eligibility for different government incentives and subsidies.
Before AVINOVA’s assistance, a Québec taxi company was facing challenges in their operations due to outdated methods of assigning calls to drivers. The company wanted to automate its operations and stay competitive, but the costs of implementing a digital platform were too high, totaling nearly $300,000.
AVINOVA’s added value was crucial in helping the taxi company achieve their goal of digital transformation. Our experts were able to assist the company in securing financial incentives, including a grant from the Ministry of Transport which covered 50% of the project cost, amounting to $150,000. Additionally, AVINOVA helped the company claim 50% of the workforce training cost on the newly implemented software, which amounted to $25,000 under the SR&ED program. The SR&ED program was key in helping the taxi company offset the costs of their digital shift and move forward with their plans.
In conclusion, AVINOVA is committed to providing expert assistance to our clients in order to help them access subsidies and tax credits that support the growth and success of their businesses. We have a proven track record of success across a wide range of industries, as demonstrated by the numerous examples of successful projects and satisfied clients. Our dedication and expertise allow us to help our clients reach their goals and bring their projects to fruition. With AVINOVA’s help, businesses can achieve their objectives while also taking advantage of available financial incentives.
Don’t miss out on the financial opportunities available to your business. Contact us today to learn more about how we can help you take advantage of subsidies and tax credits to support your growth and success.