+ You own a business that operates in the conception, production, innovation or integration of products;
+ The R&D activities of your business should be aimed at resolving technological uncertainties;
+ The human capital of your business should consist of engineers and/or technicians.
If you meet these conditions, we invite you to keep reading. You could very well be eligible to the Scientific Research and Experimental Development Tax Incentive Program!
The Scientific Research and Experimental Development Tax Incentive Program (SR&ED) applies to Canadian businesses of all sizes and any industries that conduct research and development activities.
Companies, private contractors, trusts, as well as corporations that are settled in Canada can all benefit from this financial incentive from the provincial and federal governments. Your R&D project must however meet the following three (3) criteria in order to be eligible to the SR&ED tax credit:
Current engineering does not allow you to meet your technological goals. You face a technological uncertainty.
You follow an experimental scientific approach to dissipate and solve the technological uncertainties met.
Your experimental approach has enabled you to achieve new technological advances and improve your knowledge base.
Advancing science with no practical application in sight;
The technological progress for the creation of new materials, devices, products or processes or their improvement;
The technological progress in order to create new material, dispositives, products or processes of improvement;
The work that falls under one of the activities (1-3) and is related to operations research, mathematical analysis, computer programming, data collection, testing and psychological research.
You could receive up to 70% of your expenses related to the Research and Development (R&D) conducted in Canada (combined return rates from the federal and provincial governments).
Every year, they secure over $4M in SR&ED.
They produce outstanding claims based on feedback received from CRA and RQ representatives.
They are proficient at stacking multiple tax credit programs.