SR&ED CASE STUDY
How a first-time SRED claimant won big!
Cornerstone Capabilities is a Canadian company based in the GTA. It offers multi-faceted consulting and analytical services that include consumer packaging goods (CPG), predictive analysis and revenue growth management.
Cornerstone Capabilities was contemplating whether or not to file for the Scientific Research and Experimental Development (SR&ED) tax incentive program. The senior management thought there might not be a need for a SR&ED consultant and they could perform the task internally
However, the company faced the challenge of what to claim and what not to claim in filing for its SR&ED and how the documentation would have to be gleaned and managed.
The company decided to work with RDP on a review basis. The management prepared the first draft of the claim and delivered it to RDP for review. RDP reviewed the claim on a contingency fee basis, which offered cost savings to Cornerstone.
After RDP’s review, Cornerstone was selected by the CRA for the latter’s First Time Claimant Advisory Service (FTCAS), whereby the CRA offers education on SR&ED to the client. RDP attended the CRA sessions. Subsequently, CRA accepted the claim. According to the Cornerstone’s management, “Our decision to go with RDP to get through our first SR&ED claim was the right move and we are thrilled that we took this approach, instead of trying to do it on our own. One thing is clear and that going forward, we will continue working with RDP for our future SR&ED claims.”
For a complementary assessment of your organization’s eligibility for SR&ED and grant funding, or a brief consultation on types of funding available for your industry, contact RDP: (416) 368-9341 [email protected].