SR&ED Tax Credit

What is SR&ED Tax Credit

The Scientific Research and Experimental Development (SR&ED) Program is the largest single source of government support for innovation funding in Canada. Administered by Canada Revenue Agency (CRA), the program's mandate is to stimulate R&D by quickly and consistently delivering these incentives to companies that carry out eligible work.

SR&ED tax credit claims provide companies with refunds or tax credits based on their eligible SR&ED expenditures, making a positive impact on the bottom line. Tax credits may be able to reduce your tax liability in the current, prior, or future years.

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Eligibility criteria to qualify for SR&ED

The work must meet three general requirements:

  • Technological uncertainty / obstacle that you have overcome.
  • Technological advancement as the result of the project.
  • Systematic investigation & technical content involved in the project.

Applicable industries:

There are no explicit criteria to identify specific industries, the most common industries include (but are not limited to):

  • Software Development
  • Computer Science
  • Information Technology
  • Electrical/Electronic Engineering
  • Gaming / Game development
  • Manufacturing (all types)
  • Food Processing
  • Aerospace and Defense
  • Medical Research and/or Device Development
  • Skin Science
  • Alternative and Clean Energy Development

We pride ourselves on methodical and thorough claim preparation processes in order to help you develop claims that are maximized for qualifying and justifiable expenditures.

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Claim Preparation

At VRDSI we specialize in preparing the SR&ED claims documentation and work with you throughout the process.

  • Complete claim preparation
  • Identification of potentially eligible projects and activities
  • Science report (project description) assistance
  • Expenditure analysis and preparation
  • Claim review (Already filed or about to file? Let us review your claim to assist you in determining if you have maximized allowable SR&ED expenditures.)
  • CRA audit/review assistance
  • SR&ED project planning and documentation/evidence consulting services
  • Tired of having to remember what you did, who did what, and the expenditures incurred from over 1 to 2.5 years ago? We offer services to review your existing R&D and/or product development processes to determine best practices to: maximize the benefits of SR&ED and/or other grants and incentives; track eligible expenditures; and track necessary documentary evidence. You can likely augment or mine your existing processes as opposed to having to re-invent the wheel.
  • Ad hoc (as needed) claim assistance or consulting

Methodical and thorough claim preparation processes while at the same time letting you focus on your normal business duties and minimizing your time on claim preparation.

VRDSI Professional SR&ED Tax Credit Claim Consultants

Get in touch for an assessment to find out how we can help you.