Attention CFOs and business owners of Canadian companies!
The Ultimate SR&ED Guide for Canadian Companies
This SR&ED guide contains everything you need to know about the Scientific Research and Experimental Development programme of the Canadian government.
Business Grants
It’s tough to stay ahead in the field of software development, and companies need to continuously invest in research. Fortunately the Canadian government extends a helping hand with government funding through the Scientific Research and Experimental Development Program. Canadian Companies can get up to 70% of their Research and Development expenses refunded in tax credits.
This SR&ED guide contains everything you need to know to submit a successful claim to the CRA and get a tax credit for your software development
An Overview of the SR&ED Tax Credit in Canada
The Scientific Research and Experimental Development Program (SRED or SR&ED) is Canada’s largest tax incentive programme with over $3Bn in funding per year. It subsidizes Canadian businesses that do research and development.
- Canada Revenue Agency section on Scientific Research and Experimental Development (SRED) tax incentives
- R&D Funding Programs for Innovative Corporations in Ontario
- Ontario Innovation Tax Credit (OITC)
- What is the Scientific Research and Experimental Development (SR&ED) Programme?
- Which types of projects qualify for a SR&ED Canada Tax Credit?
- Who can make SR&ED claims?
- An Overview of SR&ED Eligible Expenses
SR&ED Guide for Software Development Projects
Unfortunately, companies that want to submit software development projects often struggle with SR&ED. In fact, even SR&ED consultants are often lost when it comes to the very specialized nature of software development projects!
How to apply for an SR&ED Tax Credit Refund
Applying for SR&ED tax incentives can be daunting. Here are some resources that will help you in the preparation of a SR&ED tax credit claim.
- How to Secure SR&ED Tax Credits For Your Business?
- 5 tips to successfully apply for SR&ED Canada tax credit
- How do I file SR&ED claims?
- How CRA determines if your project qualifies for SR&ED tax credit
- What happens after you have applied for a SRED tax credit to CRA
- Don’t Panic if You Receive A SR&ED Audit
What a CFO needs to know to successfully make a SR&ED claim for software development
As a CFO you’ll want to identify which sr&ed expenditures are eligible and how your tax credit claim stands up to scrutiny from the CRA. Here is what you need to know to make a SR&ED application without burdening your technical team, and to make sure your tax credit claim is “audit-proof”.
Work with an experienced SR&ED Consultant
Conceptinero are a full-service professional SR&ED consulting firm specialized in software development. We have a 95% success rate in getting CRA to refund up to 65% of your research and development costs.
Conceptinero engages 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. As your SR&ED guide 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.
