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Research Tax Services Ltd.

  • Research Tax Services
  • Research Tax Services
  • Research Tax Services
  • Research Tax Services

What is the SR&ED program?

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What are Scientific Research and Experimental Development (SR&ED) Income Tax Credits?

The program provides financial support to businesses and individuals that conduct SR&ED in Canada. In many cases, the credits are refundable, i.e. you will receive a cheque from CRA.

How do I qualify?

Have you:

  • Fashioned a new product?
  • Improved an existing product?
  • Developed or improved a process?
  • Improved or changed the way your products are manufactured?
  • Built a prototype?
  • Evaluated a new relationship between two or more variables?

If you answered yes to any of the above, you may qualify.

How can the SR&ED program benefit you?

  • For Canadian Controlled Private Corporations (CCPC)
    • Investment Tax Credits (ITC) are earned at 35% on the first $2 million of eligible expenses, 20% thereafter.
  • Individuals and partnerships:
    • 20% of eligible expenses earn a tax credit.
  • SR&ED capital expenditures can be depreciated entirely in the year of their purchase.
  • Non-refundable tax credits can be carried back 3 years and carried forward 10 years to off-set Part I federal income tax.
  • Retro-active claim period:
    • Claims can be submitted up to 18 months from a fiscal year end.
  • It is often possible to apply for a Pre-Claim Project Review, which can provide some surety of claim acceptance.

What expenditures qualify?

  • labour
  • materials
  • contract payments
  • overhead costs
  • third party payments
  • some lease costs for R&D equipment
  • captial expenditures where at least 50% of the usage is for SR&ED

How will you be paid?

  • CCPC (Canadian Controlled Private Corporation):
    • Current expenditures: 100% refundable tax credits
    • Capital expenditures: 40% refundable tax credits
  • Individuals and Partnerships
    • 40% refundable

Further detailed information on the SR&ED program is available from Canada Revenue Agency.