SR&ED for Pharmaceutical Companies
SR&ED (Scientific Research & Experimental Development) is a government program that rewards companies that perform R&D in Canada. The 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. This is not a grant – you are entitled to this money under the Income Tax Act.
Most pharmaceutical companies qualify for the SR&ED Program.
If you answer yes to any of the following questions you could be sitting on an untapped refund.
- Is your pharmaceutical company incorporated?
- Do you develop new pharmaceutical products or medicine?
- Are you involved in Phase I – Phase IV clinical trials?
- Do you obtain consent from clinical trial participants?
- Do you follow all formal regulations, requirements relating to the development of medicines or pharmaceutical products?
- Have you acquired an advancement in knowledge in a field of science or medicine?
There are only 3 criteria for eligibility plus evidence.
- Scientific uncertainty
- Scientific advancement
- Systematic investigation
- Scientific content and evidence