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.
Many scientific businesses that conduct research can benefit from the SR&ED Program. Whether you are doing formal or informal research, published or unpublished, your business could qualify for an SR&ED refund from the CRA.
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 grants for research are retroactive and approved after the fiscal year-end of the corporation.
Most incorporated academics qualify for the SR&ED Tax Credits for Research
SR&ED Claim for Research Industry
If you answer yes to any of the following questions you could be sitting on an untapped refund.
Are you an incorporated academic? Do you have a BN?
Are you a CRO (Clinical Research Organization) involved in pharmaceutical trials?
Do you conduct formal or informal research or studies in a field of physical science, technology, or medicine?
Are you associated with an academic institution or hospital?
Are you affiliated with any research organization, association, not-for-profit, or charity?
Have you been recruited to participate in any formal study?
Have you participated in data collection for any formal study?
SR&ED Eligibility for Research
There are only 3 criteria for eligibility plus evidence.
- Scientific uncertainty
- Scientific advancement
- Systematic investigation
- Scientific content and evidence