Going into this process, we were unsure of our ability to qualify for SRED tax credits and lacked the in-house resources and expertise for the research and preparation of a high-quality claim. SRED Unlimited managed the entire process of SRED claim preparation and submission with minimum involvement of our staff. We have subsequently received a significant refund and have retained SRED Unlimited to help strategize on new projects to ensure they qualify for maximum SRED credits.
SR&ED Tax Credit for Medical Research & Experimentation
Canada’s SR&ED tax credit program distributes over $3 billion to approximately 23,000 Canadian companies conducting research. If your company is engaged in medical research to improve efficacy of products and procedures, or overall quality of life for Canadians living with certain medical conditions, then you might qualify to receive a tax credit or refund.
If you encounter technological uncertainties during your product development and/or experimentation, and especially if the solution to the uncertainty cannot be found using standard methods or public knowledge, then you have an even stronger case for SR&ED.
As long as your company is incorporated in Canada, and the research and experimentation is carried out in Canada, then any associated eligible expenses could be claimable.
SR&ED Tax Credit – An Unexpected Outcome of Medical Research in Canada
Medical research and development in a wide range of scientific activities qualifies for SR&ED funds:
If your company has been working on:
- Treatment protocol and therapy development
- Clinical trials for devices and drugs
- Medical device development and invention
- Fundamental science
… then you need to talk to one of our SRED Unlimited consultants.
Why you need SRED Unlimited
SRED Unlimited’s years of experience will allow us to help you filter through the SR&ED eligibility requirements and help clarify what projects and expenses will qualify. We can also help you navigate the tricky road of intellectual property, especially where multiple sources of funding and partnerships are involved.
Medical research and development also includes dentistry/dental surgery and aesthetic medicine.