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Scientific Research & Experimental Development (SR&ED)

Are you missing out on one of the world’s most generous financial incentive programs that might be right at your finger tips?

Get back up to 68% of your Payroll wages & salaries in tax refunds and 45% of other expenses !!!!!

Book your free consultation and assessment today !

 

Facts About the Program ... 

Canada is the most generous of the G-8 nations in after-tax cost of industrial research and development activities.

The SR&ED program is the largest single source of federal government support for research and development, accounting for about 25% of all federal spending.

According to 2010 statistics, around $6 billion dollars per year were awarded to over 20,000 claimants through cash and refundable tax credits. This translates to an approximate average of $300,000 per year per claimant.

From $0.18 to $0.68 of every dollar spent on research and development can be recovered with recovery of up to $900,000 or more per year depending on the claimant’s status and level of activity.

Businesses of any size can make a claim and there is no cap on the program.

About 75% of claimants are small and medium size businesses receiving refundable cash payments.

 

 Who is Eligible ... 

  • Private and public corporations

  • Individuals

  • Sole proprietorships and partnerships

  • Trusts

Refunds and/or tax credits are normally received, on average, after filing your claim:

  • If cash refunds … 120 – 240 days

  • If tax credits … 365 days

Claims must be completed and filed within 18 months after the end of your fiscal year, during which the R&D activity took place (e.g. can file a Dec 31, 2008 claim anytime before June 30, 2010).

Cash and refundable tax credit incentives received include:

  •  Between 20% - 35% of qualified expenditures, federally

  •  Around 10% of qualified expenditures, provincially

 

What Activities Generally Qualify ... 

For a project to be eligible, it must generally:

  • Seek some sort of an advance in the area of technology or science (creating or improving a product or process through some means of systematic investigation and experimentation).

  • Exhibit some technical risk or uncertainty (success or failure of the project is not an issue for a claim to be successful, so long as there is an attempt to achieve some technological advancement).

  • Supported by project documentation evidencing activities performed (unless you have it internally, we can offer our assistance).

 

Our Commitment to You ... 

  • We will meet with you to screen and identify projects in order to decide whether you will meet the eligibility requirements of the SR&ED program.

  • We will further investigate through dealings with the CRA the scope of your prospective claim.

  • We will guide you in producing the proper and complete documentation of the project from its inception to its conclusion and all the steps in between.

  • We will prepare your detailed technical submission report and the necessary tax schedules to be filed with your tax return on filing deadline or on amendment.

  • We will submit your claim on your behalf.

  • We will assist you in dealing with CRA SR&ED financial and technical reviews (be aware that CRA SR&ED reviewers are not CRA auditors and a potential SR&ED audit will not automatically trigger a tax audit).

 

 Our Fees ... 

  • We do not charge any front-end fees or retainers. Our fees would be calculated as a percentage of the successful claim amount, once it has been received by you.

  • If the claim does not qualify, you will not be billed for any of our services!

  • Therefore, we assume 100% of the risk!

 
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