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SR&ED Program
Is my company eligible to the SR&ED program?
Contrary to the general belief that the SR&ED program only applies to high tech industries or to research similar to that conducted by universities, the tax authority’s definition of R&D is much wider and applies just as well to manufacturing and other industries that devote themselves to creating or improving, even incrementally, new or existing products and processes.
If you are working on developing new or improving existing products, materials, devices or processes, even incrementally, and that you answer “yes” to the following questions, you may qualify for tax credits offered by the SR&ED program:
Does your work seek to achieve a scientific or technological advancement?
The search for a meaningful advance of your scientific or technological knowledge should be present as a guiding element in every eligible project. This advancement needs only to be slight, and it will be measured within the context of your business environment. For example, in terms of product or process development, a technological advancement may be achieved if a new capability was incorporated into the product or process to enhance its performance.
Does your work involve scientific or technological uncertainty?
The probability of achieving a given objective or result, or the way in which it can be achieved, must not be known or determined in advance on the basis of generally available scientific or technological knowledge or experience.
Is your work conducted by qualified personnel using a systematic approach?
There must be evidence that qualified personnel with relevant experience in science, technology, or engineering have conducted a systematic investigation through experiment or analysis. Fulfilling this criterion also means properly documenting the various stages of the project.
CRDC can help: benefit from a free consultation with our experts!
Determining whether or not a project meets the eligibility criteria is not always an obvious exercise. This requires a good knowledge of the regulations of the SR&ED program as well as a proper interpretation of the eligibility criteria in relation to your specific situation. CRDC has the experience required to help you with this endeavour. Call CRDC for a free consultation.