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ABOUT SR&ED

Background

The Scientific Research and Experimental Development (SR&ED) Program is a Federal tax incentive program designed to encourage Canadian businesses of all sizes, and in all sectors, to conduct research and development (R&D) in Canada that will lead to new, improved, or technologically advanced products or processes.  Government support for industrial R&D in Canada has been in place since 1944, with the SR&ED program being established in 1987.  Currently, the SR&ED program delivers over $4 billion in tax credits to over 18,000 companies across Canada each year.

Provincial and Territorial governments offer additional assistance that, combined with the Federal tax credits, can result in significant cash refunds for qualifying corporations.  For claimants that are under the small business limit the resulting tax credit generates a cash refund of 70% of eligible project labour costs and 40% of subcontract labour and material costs.

The SR&ED program is administered by the Canada Revenue Agency and claim preparation requires certain specific expertise.  Proper recognition of eligible work, identification of relevant costs, preparation of the technical narrative, and incorporation of the SR&ED claim into the corporate tax filing are just some of the complicated tasks best left to qualified individuals.  At Scientis Consulting Group we have the necessary skills and experience to ensure that you will receive all of the funds you are entitled to, with less than minimal disruption to your daily routine.