SR & ED | ABGi Canada

Expertises Tax Incentives SR & ED Tax Credit

 

 

SR & ED Tax Credit

 

The Scientific Research and Experimental Development (SR&ED) tax credit

 

The Scientific Research and Experimental Development (SR&ED) tax credit is an incentive program offered by the Canadian government to all businesses, regardless of their size or industry. This program encourages Canadian companies to conduct research and development activities in Canada.

Funding

 

This program is one of the most competitive in the world, with more than 3 billion Canadian dollars granted each year to more than 23,000 eligible companies. This credit is reimbursable for most companies and can finance up to 60% of eligible expenses.

Eligibility

 

If you wish to create or improve an existing product or change production practices, you may be eligible: the SR&ED tax credit is not limited to basic research.

 

Application

 

The claim process is complex and the eligibility criteria are very demanding. With our expertise, companies like yours can benefit from this program and become more competitive.

 

Management

 

We support our clients throughout the SR&ED claim process. We analyze your projects and provide you the best quality of documentation that meets the highest level of control of the Canada Revenue Agency (CRA).

How Long Does It Take To Receive Funding?

The Scientific Research and Experimental Development (SR&ED) tax credit can vary significantly. From the preparation of the claim to receiving funding, the process can take anywhere from 6 months to over a year. To ensure a smoother process, it’s crucial to provide thorough and accurate documentation.

 

Can I Use An External Consultant For Assistance?

Yes, you can use an external consultant to assist with SR&ED tax credit application process. Our consultants can provide valuable expertise, ensuring that your application is compliant with the rules and maximizing the available credits.

 

Can I Claim SR&ED Tax Credit and other funding programs?

Yes. It is possible to claim SR&ED tax credit and other funding programs. However, an analysis needs to be conducted to avoid any double-dipping risk and careful planning is required to ensure you comply with the rules and optimize your benefits.

 

 

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