SR&ED Program for Biotech industry
SR&ED (Scientific Research & Experimental Development) is a government program that rewards companies that perform R&D in Canada. The SR&ED program for the biotech industry is not a grant, but strangely enough, does actually behave like a grant. Traditional grants are pre-approved before work commences. SR&ED grants are retroactive and approved after the fiscal year-end of the corporation.
Most incorporated Biotech companies qualify for the SR&ED Tax Credit Program.
SR&ED Claim for Biotech Industry
If you answer yes to any of the following questions you could be sitting on an untapped refund.
- Is your company incorporated?
- Do you practice in the field of biotechnology?
- Does your technology involve the manipulation of cells, tissues, organs, or whole organisms?
- Does your practice use technology to study proteins, DNA/RNA, and/or enzymes?
- Does your technology involve gene-based therapeutics or pharmacogenomics?
- Does your work advance a field of science, technology, or medicine?
SR&ED Eligibility for Biotech
There are only 3 criteria for eligibility plus evidence.
- Scientific uncertainty
- Scientific advancement
- Systematic investigation
- Scientific content and evidence