The SR&ED Program
Maximizing Your Bottom Line
When managed properly, R&D tax credits can be an integral part of your funding. Approximately 25,000 companies have been claiming SR&ED funding assistance each year over the past 5 years. With us guiding your search for SR&ED funding, the application process is seamless and you stand a greater chance of achieving positive results.
SR&ED Program Benefits
The Canadian SR&ED program offers significantly more funding than the US and many other R&D tax credit programs around the world.
For small Canadian-controlled private corporations (CCPCs) that meet the eligibility criteria, the SR&ED Tax Credit Program acts like a government grant—offering cash reimbursements for eligible expenditures on an annual basis ranging between 28% to 64%, depending on the province in which you file a claim.
Large, foreign-controlled or public companies, as well as individuals and partnerships, that are not eligible for the federal refundable tax credit can qualify for a 15% non-refundable federal SR&ED tax credit.
Why Partner with Our Toronto-Based SR&ED Consulting Firm
RDP’s main business is helping companies obtain government funding and assistance. Our highly qualified and professional staff has many years of experience preparing the necessary information for a positive response. We follow a fee structure of “no-benefit-no-pay”, so you only pay when we deliver results.
As a client, you will enjoy 3 significant advantages of working with us:
Efficient process: Since RDP meets with your company during the year in which R&D is taking place, all SR&ED information is regularly documented in a manner that will stand up to CRA scrutiny. At the end of the year, the technical information and cost allocations are quartered to prepare the claim quickly and efficiently. This avoids rushing through the paperwork and costly errors.
Timely claims: RDP’s Innovation Connection Program gives structure and authenticity to the SR&ED application process providing more accurate and timely claims.
Maximum returns: RDP looks at all areas of development to ensure all projects, activities and costs are considered and the maximum SR&ED claim is made. Regular and accurate document preparation for the SR&ED funding application helps maximize your returns.
RDP’s SR&ED Claim Review Service
Some clients prefer to prepare their application independently but still want our seasoned SR&ED consultants to review the claim prior to submission. Since we prepare hundreds of claims each year, RDP stays up-to-date on SR&ED program issues and filing requirements.
RDP’s review of your SR&ED claim will aim to:
- Ensure the project description information contained in form T661 describes in the best manner why the projects meet the SR&ED criteria.
- Review the documentation available to support the claim should a site review occur.
- Review costs to determine if all eligible expenses related to the projects identified by the client are claimed.
RDP’s SR&ED System Audit
Many clients also take advantage of our SR&ED System Audit service which reviews and provides recommendations on your systems for accurately identifying, capturing and documenting SR&ED projects. RDP’s technical, engineering and accounting teams work in tandem to create processes that will seamlessly gather all the information required for your government grants application.
- Review method and procedures of selecting eligible projects, activities and costs and capturing the necessary information
- Review the documentation to support SR&ED projects including minutes of meetings, project plans, drawings, test results, emails, pictures, logs and notebooks
- Provide a report on system deficiencies with specific recommendations on how it can be improved, including providing templates or software to use.
Our clients tell us that implementing the recommendations provided by the RDP system audit has resulted in:
- Staff requiring less time to prepare the claim
- More timely (and less stressful) claim preparation
- A system that can properly support any CRA review
- A certainty that all eligible costs have been claimed
RDP is dedicated to helping companies make successful claims for SR&ED funding since 1988. Our strength is our people. We not only understand technology but use it effectively to maximize your benefits. Let us help your business obtain maximum funding for your research and development activities through the SR&ED program.
Eligibility indicators for SR&ED funding include:
- Developing or improving a new product, prototype or process
- Applying for patents
- Having technical staff with scientific or academic qualifications
- Being able to identify significant technical problems that need to be addressed with regard to the company’s process, product or service
Basic expenditures that can be claimed for SR&ED tax credits are:
- Employee labour on eligible activities
- Subcontracts with Canadian suppliers
- Materials consumed and transformed in the course of a project
- Overhead costs required for the project (can be calculated via the simple “proxy” method)
Contact Us to schedule an appointment for a Free Assessment.
Contact us to schedule an appointment for a Free Assessment. We can help determine your eligibility for tax credits and grants and share more information about innovation funding.Contact Us