Innovation is essential to every business- large or small! If your business could get paid to innovate, what doors would that open for you?
It is possible to receive funding for new and innovative ideas. Even if your original objective was not achieved, any Canadian-controlled private corporation (CCPC) may have SR&ED-eligible projects!
The Scientific Research and Experimental Development (SR&ED) tax incentives program is a generous and broadly applicable research and development tax credit. In fact, it is the largest single support program in Canada- providing over $4 billion in tax incentives through more than 20,000 claims annually.
CCPCs are eligible to receive a 35% refundable tax credit, and applicable foreign companies or non-CCPCs may be eligible to receive a 15% non-refundable tax credit to offset any corporate taxes owed when applying with qualifying person-hours and wasted material expenses.
SR&ED tax credits are available to many industries: printing, manufacturing, energy production, holistic preventative and recovery therapies, cannabis growers, new home and business construction, wineries, distilleries, breweries, and commercial food producers- may all have potentially SR&ED-eligible work.
Work doesn’t have to be “rocket science” to qualify!
You’re likely already doing SR&ED-eligible work as part of your R&D.
Are you a bakery trying to make a gluten-free, vegan frozen pizza dough that bakes up light and airy like a normal pizza crust? That could be eligible!
Has your cannabis company been tackling pest problems, while staying within Health Canada regulations about pesticide use? That work could be eligible!
If your distillery has been experimenting with non-traditional fermentation processes and unusual ingredients, that work may be eligible!
If you’ve been working on a fast-drying ink that is safe for deli food labels or been asked to print on a substrate that won’t fit in your printer on a project that needs to be fully automated, you may have SR&ED-eligible expenses.
Don’t work in tech? You can still apply for SR&ED tax credits
Most businesses follow standard design methods, techniques, procedures, protocols, and practices when developing products or processes. If you or your team have been working in development and have encountered unexpected roadblocks or obstacles, you may have eligible expenses that can be claimed.
We make applying for SR&ED as easy for you as possible. SRED Unlimited has the expertise, knowledge, and trusted consultants who can prepare claims for all industries and sectors. We can translate your work into the language that the CRA is looking for. This helps maximize your claim and potential refund or tax credit.
We can save you many billing and productivity hours by doing the leg work of the application preparation process for you. You need the expertise of SRED Unlimited to maximize the tax credits to which you are entitled to for your valuable work.
SR&ED tax credits can be a crucial part of your successful financial future and overall financial success strategy. By not applying for SR&ED, you could be missing out on potentially thousands of dollars in tax credits.
Contact SRED Unlimited for your FREE 15-minute, no-obligation consultation. Let us show you what we can do for you and maximize your SR&ED claim.