OVERVIEW OF THE SR&ED TAX CREDIT
The Scientific Research and Experimental Development (SR&ED) program is a multi-billion-dollar government incentive program introduced in the 1980s to encourage innovation and leadership by subsidizing eligible R&D expenditures. It is among the best sources of funding for firms undertaking technology development in the world. In Canada, all projects that attempt technological advancement, face technological uncertainty and use a systematic approach are potentially eligible for a refundable tax credit (or reduction of taxes payable) for related eligible R&D expenditures
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DO YOU QUALIFY?
In a nutshell, any corporation in Canada that undertakes a project that: 1) attempts to technologically advance a material, product, or process, 2) faces technological uncertainties and 3) uses a scientific approach would be eligible for SR&ED tax credits.
What Can You Expect to Receive?
You could be eligible to receive up to 74% of your R&D salaries expenditures back in the form of a refund. R&D Partners will ensure that you will take full advantage of the tax credit opportunities available for your company.
