Who can qualify for the SR&ED cash refund / tax credit program?
If your corporation is registered and operating in Canada, and has created or modified a material, device, product, or process you may qualify
for the SR&ED cash refund / tax credit. All work ranging as far back as 1.5 years is accepted and success or failure is not a factor.
If a company employs any kind of technology within a production facility (no matter how large or small) chances are that the employees are
performing certain activities (i.e. shop floor experimentation) that qualify the business for SR&ED funding.
- Ever built any prototypes, conducted trials, or created custom or unique products for clients?
- Have you tried to improve the performance or quality of existing products or services?
- Ever failed a complicated order or experienced unexpected technical problems left unresolved?
If you answered ‘YES’ to any of the questions call Tax Refunds Canada
now for your free corporate evaluation with a SR&ED expert consultant .
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Project types that qualify for the SR&ED cash refund / tax credits
Here are the two most common types of projects that a company could claim for the tax refund:
- The generic research and experimentation.
For example: a print company wanted to achieve (and the experimentation resulted in) the ability to print across a wider variety of
substrates, dot gain reduction, an increase in average ink densities, or an increase in screen frequency (number of lines per inch).
- The experimentation and research that a company had to undertake to complete a custom order with non-standard requirements.
Of course, there could be other types of projects that would qualify for SR&ED .
Usually, the labor of shop-floor employees, production managers and others involved in planning of activities qualifies as an eligible expense
for SR&ED.
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Business types that qualify for the SR&ED cash refund / tax credits
Any company registered and operating in Canada, which has a payroll and performs experimentation. The success or failure of experimentation
is not a factor. And since most companies do conduct experimentation, you will most likely qualify!
In the article $4 Billion funding
is available to Canadian businesses you can find examples
of research projects qualify for SR&ED in different industries.
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Return to: The SR&ED cash refund / tax credits program process
Revised:
November 30, 2009
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