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Canada is a global leader in research, science, and innovation, supported by grants and tax incentives. One notable program is the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), established over 70 years ago to drive job growth and market new Canadian innovations. Applying for IRAP funding involves meeting several qualifications, which can impact a company’s SR&ED Tax Credit.
Funding
IRAP offers labour costs:
a maximum of 80% for T4 employees and 50% for sub-contractors related to the R&D projects.
Eligibility
To qualify for IRAP funding, applicants must be Canadian-incorporated small or medium-sized businesses with fewer than 500 full-time employees, aiming for innovation or technological growth. Non-profits and government bodies are excluded.
Application
To apply for IRAP funding, contact ABGI to see if you meet all eligible requirements.
ABGI will make an assessment and you will be able to present an eligible project to NRC in order to accelerate the application process.
IRAP Management
When you receive funding, you will need to ask for reimbursement through the IRAP platform. (adding requirements: explaining the stages of the project, apply for expenditures…) ABGi can help with your IRAP management once it is validated.
How Long Does It Take To Receive Funding?
Once the IRAP funding has been approved, an applicant can expect the following funding timeframe:
The applicant must submit monthly reimbursements to share the costs.
Can I Use An External Consultant For Assistance?
Yes, a company applying for IRAP funding can use an external consultant for assistance with writing the projects and business plan. Please note that the ITA will only work directly with the applicant and will not speak to the external consultant. IRAP funding does not cover the external consultants’ costs.
Can I Claim Both SR&ED Tax Credit and IRAP?
Yes. It is possible to claim SR&ED tax credit even if you are receiving an IRAP funding. However, an analysis needs to be conducted to avoid any double-dipping risk. (https://abgi-canada.com/en/leveraging-irap-as-well-as-the-sred-tax-credit-to-maximize-your-companies-innovation/)
