R&D Tax Credits in Life Sciences & Biotech

When a new product or industry breakthrough occurs, it is clear that innovation has occurred.  r&d tax credits in life sciencesHowever, when it comes to R&D tax credits in Canada, such as SR&ED, the definition of innovation is much broader – inclusive of incremental advancements. These are often overlooked.

The question is, “Is your company one of many who are missing the opportunity claim R&D tax credits?”

Find out which R&D tax credits in life sciences & biotech are available.  We’ll show you what type of companies can claim SR&ED, as well as some examples of projects that would qualify.

Maximizing your companies’ SR&ED tax credits is best supported by an expert in the field.  SR&ED consultants help companies maximize their R&D tax credits and ensure that projects are submitted according to the CRA’s guidelines.

Who is already claiming SR&ED?

In the field of Life Sciences and Biotechnology R&D tax credits are available to a range of companies, including contractors such as analytical laboratories, contract research laboratories or contract manufacturing organizations. Examples of types of companies already claiming include:

  • Biotechnology – Biological Product Manufacturers
  • Pharmaceutical – Pharmaceutical and Medicine Manufacturers
  • Nutraceutical – Producers of isolated nutrients, dietary supplements and herbal products
  • Medical Equipment and Supplies Manufacturers
  • Electro medical and Electrotherapeutic Apparatus Manufacturers
  • Biotechnology & Life Sciences R&D Facilities

Project examples that are SR&ED eligible

Has your company conducted pre-clinical or clinical studies, devised new analytical methods or instruments in the process of conducting business?  Much of this activity, which is often perceived by organizations as routine work, could be SR&ED eligible.

Here are some basic projects from previous SR&ED claims that are typical examples of SR&ED eligible projects in Life Sciences and Biotechnology industries:

  • Creating new or enhanced manufacturing processes
  • Developing or enhancing existing tools or devices
  • Developing a new or improved cultivation of plants
  • Conducting breeding programs which modify organisms
  • Developing computer programs
  • Developing green technologies
  • Advancing bioinformatics from living organisms

How we can help

Our experienced SR&ED experts at Enhanced Capital Recover will be able to identify all of your eligible projects and assist you in recovering SR&ED tax credits to which you are entitled.

Even if you currently complete your own R&D tax credits application, our experts will be able to validate and optimize your scientific descriptions as well as your eligible expenses. We will assist you in maximizing your return on investment while minimizing the risk of audit by Revenue Canada.

With our contingency based fees, we completely eliminate the risk of making a claim. We do the work up front and only get paid when your refund is secured.  Contact us today for a free, no obligation consultation.