SR&ED Credits for Canadian Business

SR&ED Tax Credits are available to a Canadian business in ANY industry that has contributed to the advancement of scientific knowledge or technology by creating new or improving upon existing products, processes, materials and devices.

Keep in mind SR&ED claims are “activity” specific, not “industry” specific, meaning a Canadian company in any industry is entitled to funding, provided they have completed one or more eligible SR&ED activities.

SR&ED ELIGIBILITY

Has your business been?

  • Facing significant technological difficulties and challenges recently?
  • Involved with the development of a new product or process?
  • Involved with the improvement of an existing product or process?
  • Investing or have plans to invest significant amounts of money in technology?

If you have answered YES to any one of these questions, you are almost certainly eligible for SR&ED funding.

How much can you claim?

Probably a lot more than you think! Federal incentives are 35% for Canadian-controlled Private Corporations (CCPCs) and 20% for others. In addition to federal benefits, you are likely eligible for provincial incentives as well.

ESTIMATE YOUR CREDITS!

Here is a partial list of industries eligible for funding.

  • Agricultural sciences
  • Aerospace and aviation
  • Chemical processing
  • Computer science and information technology
  • Design and construction
  • Electronics and optics
  • Engineering
  • Food and beverage sciences
  • Life and health sciences, including dentistry and orthodontics
  • Information technology
  • Machinery and equipment
  • Manufacturing and processing
  • Pattern, tool and die
  • Pharmaceuticals
  • Plastic moldings, tool & die making, chemicals
  • Printing and packaging
  • Transportation