The Scientific Research & Experimental Development (SR&ED) tax credit is a federal tax incentive program encourages both small and large businesses to engage in research & development with the goal of creating or improving existing products, processes, principles, methodologies, or materials.
The goal of the Scientific Research and Experimental Development (SR&ED) tax credit is to provide Canadian companies with money to help reduce costs associated with undertaking capital expenditures that would normally be considered “too risky” to otherwise incur.
Tax credits awarded to privately held Canadian corporations range from 20% to 35% of eligible Research and Development costs incurred on a specific project or initiative. Individual taxpayers and trusts may also be eligible for the Scientific Research & Experimental Tax credit at the basic rate of 15% on qualified expenditures. The tax credit must be applied against taxes payable and the remaining credits can be refunded, up to a maximum of 40%.
At Capstone LLP we work in partnership with a variety of scientists, software developers, engineers, technicians, and government related agencies to help identify and benefit from various funding opportunities available to business owners.
We offer the following SR&ED services:
- Review of your business processes to identify, track, and optimize eligible projects and expenditures
- Prepare or review technical reports submitted to the Canada Revenue Agency (CRA) as part of the SR&ED program
- Guide your finance and technical staff on the requirements and eligibility of applying to the SR&ED tax credit program
- Assistance with pre-claim project reviews to obtain a preliminary assessment from the CRA
- Assistance with any claim defense needed in the event of a CRA audit
Contact us today for a free consultation
Benefits for Our Clients
Customer Service Guarantee
When you hire a Chartered Accountant, you expect to be able to rely on them, not only for their SR&ED expertise, but also to get your calls, emails and questions answered in a timely manner. We expect even more from ourselves, and guarantee that each of our clients is satisfied with our level of customer service.
We have over three decades of tax and SR&ED experience in our firm, across many different industries and business types. We apply our expertise and tailor our approach to suit your needs and deliver the results that you expect. As our client, you have the opportunity to leverage all of our knowledge and experience.
Always On Time
We know that there are deadlines that your business must meet when filing corporate taxes as well as submitting your SR&ED claim documentation. We ensure that we always deliver our SR&ED services on-time, without sacrificing quality in our work.
Contact us today for a free consultation with a small business accountant