SR&ED tax credit consultant | |
The Scientific Research & Experimental Development (SR&ED) tax incentive program is the Canadian government’s largest single support program for research and development (R&D). Introduced in the 1980s and administered by the Canada Revenue Agency (CRA), it is available to both small and large businesses. The program aims to encourage Canadian companies to undertake research and development activities inside the country. The credits are a tax incentive for performing qualified research in Canada, resulting in a credit to a tax return. The credit is refundable up to amounts of $3 million, so the business gets a cash refund even if it is not making a profit. Unused tax credits can also be carried over. more info about SR&ED tax credit consultant here. Adequately assessing a potential SR&ED claim at the beginning is one of the most important parts of the R&D claim process. R&D activities need to meet certain legislative requirements for them to be deemed eligible activities by the CRA. Ensuring that you receive your SR&ED tax offset The preparation of an SR&ED tax incentive claim involves the: Collation and analysis of technical information; Preparation of formal government documents and additional technical documentation; Utilisation of detailed accounting methodologies; and Application of the SR&ED tax incentive and CRA administrative processes. Who is eligible to claim the SR&ED Tax Incentive? The credit is aimed at small and medium sized companies as well as large corporations. The criteria which must be met in order to qualify are defined by the CRA, and include the following activities: The design and development of new products Changes to work-flows and processes The design and installation of new software and computer systems Development of products which have not yet gone into production Improvements to existing products Address: 250 Yonge St #2201, Toronto, ON M5B 2L7 ![]() | |
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Target State: All States Target City : Toronto Last Update : Feb 13, 2025 2:32 AM Number of Views: 14 | Item Owner : SR&ED tax credit consultant Contact Email: (None) Contact Phone: +1 647-846-7079 |
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