Our SR&ED consulting firm begins with a comprehensive review of your company's R&D goals, potential eligible projects, and financial structure. We assess your typical expenses and establish necessary authorizations for the SR&ED tax credit program.
We identify eligible SR&ED projects, focusing on scientific research and experimental development activities that qualify for CRA's tax incentive program. This phase includes assessing project expenditures and estimating potential SR&ED tax credits.
We gather technical and financial information, including time sheets and payroll data, to support your SR&ED claim. This crucial step ensures all eligible expenses are captured for the SR&ED tax credit calculation.
We prepare the T661 form and all necessary documentation for your accountant, ensuring accurate filing of your SR&ED claim with the CRA program.
After filing, we monitor the claim status with CRA and provide support during any potential audits, ensuring your tax credit eligibility is well-defended.
We offer ongoing consultant services to improve your SR&ED process, maximizing future tax incentives and government assistance.
Our team crafts concise project descriptions that align with CRA eligibility criteria, demonstrating your scientific research and experimental development efforts.
We determine eligible SR&ED expenses, calculate staff hourly rates, and assess contractor and material costs. Our experts compute the SR&ED tax credit rate according to federal and provincial regulations.
A thorough review ensures your SR&ED claim presents a solid case for the Canada Revenue Agency, maximizing your potential refundable tax credits.
SR&ED stands for Scientific Research and Experimental Development, a government tax incentive program in Canada.
CRA typically processes SR&ED claims within 60-180 days, depending on whether it's a first-time claim.
SR&ED provides tax credits or cash refunds to Canadian businesses conducting eligible R&D activities
R&D is a broader term, while SR&ED specifically refers to the Canadian tax credit program for eligible R&D activities.
SR&ED tax credits typically range from 15% to 35% of eligible expenses, depending on company size and location.
SR&ED claims can be filed up to 18 months after the end of the tax year in which the expenses were incurred.
No, SR&ED is not a grant but a tax incentive program offering refundable tax credits or cash refunds.
Eligible SR&ED activities include experimental development, applied research, and basic research that advance scientific or technological knowledge.
There's no set maximum for SR&ED claims; the amount depends on eligible expenses and the company's specific circumstances.
