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SR&ED Program
What is the SR&ED Program?
The Governments of Canada and Québec have established a tax incentive program to encourage Canadian businesses of all sizes to conduct research and development that will lead to new or improved technologically advanced products or processes. This program is called the Scientific Research and Experimental Development (SR&ED) Program. It is the largest single source of federal and Québec government support for industrial research and development.
The SR&ED Program gives claimants cash refunds and/or tax credits for their expenditures on eligible research and development work done in Canada. At the federal level, the credits reduce taxes payable, or they can generate a cash refund if certain conditions are met. At the Québec level, the credits are always refundable. Canada's SR&ED tax incentive program is one of the most advantageous systems in the industrialized world for promoting business investment in R&D, providing over $3 billion in tax assistance to innovative Canadian businesses of all sizes in 2006. It is the single largest federal program supporting business R&D in Canada, and it will continue to play a leading role in fostering a competitive and dynamic business environment in Canada. The SR&ED tax incentives are supplemented by similar measures in most provinces. The government continually monitors the effectiveness of SR&ED tax incentives.
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