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The Scientific Research
and Experimental Development (SR&ED) program is a federal tax incentive
program to encourage Canadian businesses of all sizes and in all sectors
to conduct research and development (R&D) in Canada that will lead to
new, improved, or technologically advanced products or processes. The
SR&ED program is the largest single source of federal government support
for industrial research and development.
Claimants can apply for
SR&ED investment tax credits for expenditures such as wages, materials,
machinery, equipment, some overhead, and SR&ED contracts. Generally, a
Canadian Controlled Private Corporation (CCPC) can earn an investment
tax credit of 35% up to the first $2 million of qualified expenditures
for SR&ED carried out in Canada and 20% on any excess amount. Other
Canadian corporations, proprietorships, partnerships, and trusts can
earn investment tax credits of 20% on qualified expenditures.
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To qualify for the SR&ED
program work must advance the understanding of scientific relations or
technologies, address scientific or technological uncertainty, and
incorporate a systematic investigation by qualified personnel. For more
information about the program or to see if you may qualify, call us to
arrange an appointment.
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