SRED Tax Consultants | Conceptinero | Ontario | https://conceptinero.com
For owners (specified employees) performing SR&ED-eligible work, experience has shown that the CRA is less apt to question a salary when it paid regularly, as opposed to a situation when an accrual is made at year-end and paid within the 180 day prescribed limit. “Salary or wages” means a T4 has been issued and source deductions have been paid. Amounts paid after year-end may be argued to be remuneration based on profits or bonuses – which are NOT eligible (which may trigger a SRED or payroll review, or both.) A “Bonus” is defined as a payment that is not earned and is gratuities to an employee beyond his/her normal pay. In addition, contract payments by an owner to another company in lieu of salary are also NOT eligible. CRA will check payroll journals to determine the regular salary amounts versus what was paid as a bonus.
We are a full-service professional SR&ED Consulting Firm specialized in the Medical Science, Software and Manufacturing industries. We have a 95% success rate in getting CRA to refund up to 65% of your research and development costs.
We engage with you to assess the technical and financial viability and make sure your claim gets approved by CRA without an audit. We have submitted $50M in claims to the CRA. Over 320 claims were accepted as filed, for an average $146,000 per company.
Unlike larger SR&ED consulting firms, we offer full service from an individual consultant who gets to know your team and fully manages your CRA claim. We don’t expect you to do the heavy lifting, which means maximum results with minimal input from your team so you can focus on your business.
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