SR&ED Refunds for Medical Doctors
SR&ED (Scientific Research & Experimental Development) is a government program that rewards companies that perform R&D in Canada. The SR&ED tax credit program makes Canada a more economically competitive and technologically advanced nation and it has been in existence since the 80’s. The Canadian incentive program is one of the most generous R&D programs in the world.
The SR&ED program is not a grant, but strangely enough, does actually behave like a grant. Traditional grants are pre-approved before work commences. SR&ED refunds for medical research are retroactive and approved after the fiscal year-end of the corporation.
As an MPC (Medical Professional Corporation) you could qualify for tax credits & refunds for your formal or informal medical research, whether the work is published or unpublished.
Most incorporated medical doctors qualify for the SR&ED program benefits
SR&ED Claim for MPCs
If you answer yes to any of the following questions you could be sitting on an untapped refund.
- Is your medical practice incorporated? Do you have a BN?
- Do you practice in a field of medical specialty?
- Have you ever or would you like to define hypotheses and study clinical data in your field of medicine?
- Has your work resulted in an advancement in knowledge in a field of medicine?
- Have you ever published in medical journals?
SR&ED Eligibility for Medical Doctors
There are only three criteria for eligibility plus evidence:
- Scientific or medical uncertainty
- Scientific or medical advancement
- Systematic investigation
- Plus Technical Content