What kind of business can benefit from the SRED tax credit?
Can I claim SR&ED if I don’t have taxable income in this fiscal year?
How experienced are Enhanced Capital Recovery’s SRED consultants?
What is Enhanced Capital Recovery’s success rate with SR&ED claims?
Does Enhanced Capital Recovery provide SR and ED services across Canada?
Can provincial R&D tax incentives be applied in addition to the SR&ED tax credit?
What is the advantage to using Enhanced Capital Recovery’s SR and ED consultants over claiming by myself?
Will an SR&ED audit trigger an audit of my whole company?
How does Enhanced Capital Recovery handle claims reviews and audits?
Can I file a SRED claim if the objective of a R&D project was not met?
How much time do I have to file for SRED? Can I amend an existing tax filing?
In short, any Canadian Controlled Private Corporation (CCPC) operating in Canada can qualify. The SRED program is designed to benefit any industry that makes an attempt at technical improvement.
Canada’s Scientific Research and Experimental Development (SR&ED) Program is designed to help Canadian organizations recoup their research costs. The program offers refunds to small- and medium- sized businesses on research investments including labour and capital expenditures.
You may be able to recoup up to 65 per cent of your research costs including wages, capital expenditures and overhead. Any industry is eligible, provided the goal is improving technology or technological advancement.
The SR&ED program offers tax incentives to encourage Canadian businesses of all sizes to conduct research and development. For small businesses, those incentives come in the form of cash refunds even if you didn’t owe taxes in that fiscal year.
All of our consultants are experienced in SR&ED claim preparation and have technical expertise across various industries. We stay up to date on the latest news and developments in SRED legislation and rulings. This allows us to ensure our clients receive full credit for all of their R&D activities. Our experts have the experience to recognize even the most complex project expenses and ensure that they are included in your claim.
We are very proud of our 98% success rate. We have secured substantial R&D refunds for clients in a broad range of industries including software & IT, oil & gas, mining, manufacturing, food science, health care, pharmaceuticals and others. The majority of our clients continue to work with us year after year.
Yes, Enhanced Capital Recovery provides its end-to-end SRED claim preparation services to clients in all provinces. We also assist our clients in applying for all applicable Provincial R&D refunds.
Yes. Most Canadian provinces and territories offer R&D tax incentives at a provincial level. Our services include application for both the Federal and Provincial programs.
Many of our new clients see a significant increase in their SRED refunds when using Enhanced Capital Recovery’s end-to-end services. We’ve found that several non-intuitive expenses and activities are routinely overlooked or unclaimed. A professionally prepared claim maximizes your refund, presents your work to the CRA in a format that meets their expectations, and greatly reduces the chances of a review. In addition, Enhanced Capital Recovery provides you with guidance and our simple go-forward tracking tool to simplify the process of your future claims.
Not normally. Since SR&ED is an incentive program to encourage innovation in Canada, reviews are separate from regular CRA audits. Revenue Canada clearly indicates this distinction in its publications.
We have a clearly defined process for defending claims, whether the claim was prepared by us or by other SR&ED consultants, accounting firms or owners who have completed their claim in-house. In addition, if you are concerned about the potential of a CRA review of a current SR&ED claim, we’re pleased to provide an independent opinion of the eligibility of a claim in advance of its submission. Please read more in our defending claims page.
Yes. The success of a project is not relevant to its eligibility for SR&ED. SR&ED can be claimed as long as technological uncertainty, technological advancement, and systematic investigation can be shown, whether the business objectives were met or not.
How much time do I have to file for SR&ED? Can I amend an existing tax filing?
You have 18 months from the end of your fiscal year to file for SR&ED. You can submit a tax filing any time prior to the end of the 18-month period.