CRA SR&ED FAQ

Maximize your SR&ED refunds

Q: Is my company eligible to receive SR&ED refunds?
A: Any Canadian-owned business involved in research and development (R&D) or experimentation can apply for a Scientific Research and Experimental Development (SR&ED) refund. The SR&ED incentive program is a Canadian federal government program structured to support Canadian companies engaged in R&D and experimentation by compensating for expenditures made on R&D, including employee wages and owner’s labour, sub-contracts and material expenses
Q: How much time do I need to spend with SRED Unlimited consultant to ready my claim for submission?
A: Between six and eight hours total
Q: If my company is not showing a profit, and I am not paying taxes, can I still be eligible for SR&ED refunds?
A: Even if no taxes have been paid, you still could be eligible for refunds on expenditures made on R&D.
Q: How am I billed for preparing my submission?
A: Fees are performance based. There are no upfront fees or retainers. If the claim does not qualify, there is no fee.
Q: How long does it take to receive a refund once the submission is filed?
A: It can take between three and four months if the T2 Corporate Income Tax return and SR&ED claim are filed simultaneously.
Q: Is there a time limit for submitting SR&ED claims?
A: SR&ED claims must be submitted within 18 months of the fiscal year end.
Q: What refund amount can I expect?
A: Refunds can vary based on the projects claimed as well as the size of your company’s payroll.
Q: Does the government control how your refund is used?
A: No.
Q: How is my confidentiality assured?
A: SRED Unlimited guarantees client confidentiality by signing a Non-Disclosure Agreement before starting to work on the claim preparation.
Q: Do you work alongside accounting firms?
A: Yes, we will gladly work with accounting firms of any size. Acting as an extension of your firm’s team, SRED Unlimited guarantees confidentiality, professionalism and the highest standard of business ethics.
Please feel free to contact us with any additional questions.