In Canada, the SR&ED program distributes over $3 billion to approximately 23,000 Canadian companies conducting research. These don’t have to be research companies specifically; they’re often for-profit companies in a variety of sectors that encounter technological uncertainties when trying to develop unique or improved products and services.

This includes medical professional corporations. And the good news is, thanks to legislation that’s over ten years old, medical doctors can incorporate themselves and become just as eligible to make SR&ED claims as any corporation.

Medical research and development in a wide range of scientific activities qualifies for SR&ED funds:

Companies that fit this profile include:

  • Treatment protocol and therapy development.
  • Clinical trials for devices and drugs.
  • Medical device development and invention.
  • Fundamental science.

However, there are compelling reasons to call upon SRED Unlimited‘s years of experience when embarking on a SR&ED claim in this field. As in all claimable sectors, the SR&ED eligibility requirements can appear vague at times, or you might be unsure of what’s claimable.

Medical science also presents unique challenges compared to some sectors. Incorporated doctors could be performing research in partnership with universities or hospitals, and it becomes convoluted who can take credit for what, or how much can be claimed when a project is already receiving grants.

SRED Unlimited can help to clarify many of the questions you have about SR&ED claim eligibility, intellectual property, and what percentage of costs can be claimed.

Remember, medical research and development includes dentistry/dental surgery and aesthetic medicine. These are constantly evolving fields of research that can require a systematic approach to determine if a process improvement or a newly invented appliance/implant is safe to use, has the intended effect, and is feasible from a cost perspective.

Maximize your SR&ED claims for Medical Professional research and experiment tax credit and refunds