Your costs may be eligible for reimbursement – We can show you how.
You could recoup up to 64% of eligible employee costs, up to 42% of material costs and up to 33% of sub-contractor costs.
The case of Formadrain Inc. v. The Queen, 2017 CCI 42, recently determined that a new approach to making tubing used in repairing drains involved SR&ED. The Crown argued that the project’s technological uncertainty was “entirely in the chemical composition of the...
The law says several things about SR&ED. There has to have been a scientific or technological uncertainty. This means that the scientific or technological challenge was not resolvable by only using methodologies (techniques and procedures) that are standard practice for competent practitioners in the knowledge field to which the project pertains
The fundamentals of it are that you need to be seeking technological advancement through scientific research or experimental development that is done via systematic experimentation or analysis.
One of the concerns many people have about filing the SRED claim is the amount of time they will have to spend. It would be misleading to say that you would not notice the demand on your schedule. It DOES take time, but it can be minimized.
The SRED program is administered by CRA because it is the Income Tax Act of Canada that gives the program its authority.