The scientific research and experimental develop program (SR&ED) is a generous R&D tax credit incentive offered by the Federal Government of Canada. The program pays more than 20,000 eligible Canadian Controlled Private Corporations in excess of $3 Billion (CDN) each year.
Recover up to 65% of eligible SR&ED expenses
The SR&ED program is a tax credit system designed to encourage Canadian Controlled Private Corporations (CCPCs) to make technological and process improvements and make Canada a world leader in advanced technology. As a result, all CCPCs benefit from a high tax recovery rate of up to 65% for eligible expenses. Start-up CCPCs benefit additionally since the tax credit is also refundable, meaning that a refund is provided whether or not the company has any taxes payable in that fiscal year.
Breakdown the barriers of complex legislation and report writing
Although the SR&ED tax credit is an amazing financial opportunity for many businesses across all industries, complex legislation and time intensive report preparation have created barriers for businesses which are otherwise eligible to take advantage of it.
Contact Enhanced Capital Recovery today for a free consultation and find out if your company may be eligible for SR&ED or other tax credits in Canada!