The goal of the Scientific Research and Experimental Development (SR&ED) program is to incentivize businesses to pursue research and development (R&D) that will lead to new, improved, or technologically advanced products and processes.
That all may sound intimidating, but you don’t have to be doing cutting edge R&D like all those firms in Silicon Valley. Broadly speaking, if a solution to your technical problem is not available in the public domain (e.g., web searches, white papers, academic resources), your work may qualify for SR&ED.
If your R&D efforts are eligible, you can get up to 35% of your expenditures (e.g., Salaries and Wages) back in the form of tax credits. To get the tax credits you deserve, we will identify the current innovation work that is eligible, tweak your process to optimize the documentation required, and prepare and submit your claims.
Identify SR&ED eligible projects
There is a high probability that the development projects you have in motion are available for SR&ED.
We’ll do an assessment, and narrow down which ones are applicable based on the SR&ED requirements and also identify other applicable grants.
Align on documentation practices
SR&ED eligible work must be documented and you’re likely already capturing it in existing systems like Jira, Asana, GitHub, Slack, etc. We will help ensure that we know where the information is so that we can file the claim while also not making it cumbersome on your employees.
SR&ED Preparation and filing
We take away the burden of filing with the CRA. Throughout the tax year, we help ensure that documentation stays current so that you’re not scrambling to gather all the filing data at the end.