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SRED

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Who we are

What is SR&ED

SR&ED stands for Scientific Research & Experimental Development. This is a Canadian Government initiative administered by CRA as a tax credit to encourage innovation and scientific R&D in Canada.

Eligibility

Is your business: involved in any scientific research and development activities?Experiencing significant technical challenge? Generating new knowledge "technical advances" to solve problems that were irresolvable using existing knowledge?

Process

SRED

What is SR and ED
Eligibility
Services and Fees

What is SR&ED

What is SR and ED

What is SR&ED

SR&ED stands for Scientific Research & Experimental Development. This is a Canadian Government initiative administered by CRA as a tax credit to encourage innovation and scientific R&D in Canada.Arguably the best of its kind in the world, it is also one of the most underutilized programs. By CRA's estimates, less than 50% of the companies eligible to get SR&ED credits are actually applying for them. CRA pays out almost $5 billion in SR&ED credits to more than 25,000 companies annually.This credit is available for work undertaken by Canadian companies for the purpose of achieving technological advancement by creating new, or improving existing materials, devices, products or processes.Almost all provinces have similar programs that are in addition to the SR&ED credits.CoverageSR&ED program is available to all Canadian individuals and companies regardless of their size. The credit has been designed to benefit small-to-medium companies (CCPC's) the most.The research and development work must be performed in Canada by Canadian companies.Eligible activitiesScientific Research and Development activities that are covered under the definition provided by CRA are eligible for a refundable or non-refundable credit. General information on the program can be obtained from the following website:http://www.cra-arc.gc.ca/txcrdt/sred-rsde/menu-eng.htmlThe following activities are considered eligible for SR&ED:A. Basic ResearchB. Applied ResearchC. Experimental DevelopmentD. Technical Support WorkWhere do you start?Call us at 1 888 418 SRED, and once your eligibility is established after out initial interview; leave it up to us to guide you from there to getting the money for you.

Eligibility

Is your business:Involved in any scientific research and development activities?Experiencing significant technical challenges?Generating new knowledge "technical advances" to solve problems that were irresolvable using existing knowledge?Investing (or planning to invest) in development (or improvement) of new (or existing) products, processes or systems?If the answer to any of the above questions is YES, your company may well be eligible to claim SR&ED credits from the Government. Please contact us toll free at 1 888 418 7733.How much can you get?Probably a lot more than you think! For instance, an Ontario CCPC could end up with a refund of up to 69% of the direct labor or 42.5% of labour, materials, capital and overhead expenditure incurred in eligible activities. On the low side, the limit is 33% of labour and 20% of other eligible expenditures or 20% of all eligible labour, capital and overhead expenditures. The tax credit is refundable for CCPC's. For all others, the credit is adjustable towards income taxes payable.You would be pleasantly surprised how large this credit can be.How far back can you claim?The SR&ED claims have to be filed within the timeframe that is 18 months from the year-end for which a claim is sought. At any given time therefore, your company can be eligible for a maximum of two claims. CRA does not allow late or incomplete submissions under any circumstances. Once expired, this is a permanent loss of entitlement.
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Services and Fees

What is SR&ED

Services Provided

We add direct and measurable value to the bottom line of each and every one of our clients. As a result, at the end of each engagement, we leave our clients with more knowledge and more financial resources.Our other services include:Assistance with Industrial Research Assistance Program fundingOntario Interactive Digital Media Tax Credit (OIDMTC)Government grants and rebates sourcingPreperation of commodity tax returns like Import Duty and GST/HSTPayroll taxes and EHT consultingOur fee structureOur fees structure is flexible depending upon the needs of our clients. Typically, we like to charge our fees based upon the results we can provide; for example, we work on a percentage basis for SR&ED claims received by our clients. We also provide our services based on a fixed fee as well as on a per diem consulting basis.
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About us

About us

Who we are

SR&ED Funding Consultants is a consulting firm of professionals in the fields of technology, finance and marketing. We are primarily engaged in providing consulting services to Canadian businesses that are involved partly or wholly in innovation, or in advancement of scientific R&D in new or improving existing materials, products and processes.We assist our clients in getting funds through tax credits like investment tax credits from the Federal and Provincial governments. We can also assist in financial management, IRAP applications, and preparing and coordinating proposals with banks like BDC.Why choose us?Filing for investment tax credits like SR&ED is not an exact science. There are sufficient gray areas that only experienced tax and financial experts can identify them. Therefore who you choose to file your claim can make a substantial difference in the funds you can recieve. We have on our team professional accountants and tax experts, engineers and systems professionals who will take you through the entire process of preparing, filing, and navigating CRA reviews and obtain for you the maximum SR&ED funds to which you are entitled.Our mandate is to make the process of obtaining the funding you are entitled to as straightforward as possible, without being too intrusive and taking your time and focus away from your business. Whether you are trying a cutting edge technology or contemplating a significant improvement in processes and systems, let's help you to convert a significant portion of your expenses into cash from the Government rendering your business more viable, profitable, and therefore more attractive to banks and shareholders alike.Call us toll free at 1 888 418 SRED

Process

Resources

Process

Making a claim under the SR&ED program can be a very confusing and intimidating process for a typical company. We take the mystery and complexity out of this process by our systematic approach to the claim. Our methodology is simple and streamlined:Step 1 - PlanningWe start our assignment with a complete review and analysis of the structure already in place at your company. This helps us to identify all SR&ED eligible activities, related documentation, and cost allocation methods. We will be meeting your high-level technical and financial managers during this process and plan the execution of Step 2.Step 2 - Preparing and FilingOnce all major SR&ED activities are identified, we then set out to prepare a claim by assembling accounting and technical documents to support the claim. This process involves:Analysis of technical issues for each SR&ED project.Analysis and assimilation of costs and cost related documentation for each SR&ED project.Preparation of relevant Federal and Provincial Claim forms and relevant information to be filed.Filing of the claim within timelines permitted by CRA.Step 3 - Follow up with CRAAfter a claim is filed, we rigorously follow up with CRA (and the Provincial Governments, wherever applicable) to get the claim reviewed and finalized so that your Company can get the credit/refund from the claim as soon as possible. This process involves:Setting up and coordinating CRA reviews of technical summaries and financial figures of the claim.Assisting your company in resolving all issues related to the claim.Providing all necessary information to CRA to finalize the claim.Following up with CRA until an assessment/(reassessment) for Claim is received.Step 4 - Ongoing Advisory ServicesAs our engagement with your company continues, so does our commitment even after a claim is accepted by CRA and a credit/refund is issued. We work continuously with your Company and provide you with relevant feedback based upon our experience with your prior claim to make your Company more SR&ED credit compliant in the future in order to:Make the information gathering process less intrusive in the futureIncrease awareness in your Company to identify SR&ED projects with greater ease.Maximize the future claims of your company.This is "our end-to-end and beyond" service, intended to make it a totally painless process for your company to recieve much deserved SR&ED credits.
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FAQ

FAQ

Q. Are SR&ED credits available only to certain industries like IT?A. No. Any Canadian company that is involved in Scientific R&D activities is eligible for making a successful SR&ED claim. SR&ED credits are not industry specific; they are activity specific.Q. Does the R&D effort have to be revolutionary? A. No. All that needs to be substantiated is an effort on the part of the claimant to attempt to resolve a technical challenge by developing or improving upon base level products, processes and methodologies.Q. Are you ineligible to make a claim in the future if your claim was once declined?A. No. The claim for each year is treated as independent from other years. As long as your company can substantiate eligible activities in the year of claim, the previous years' track record does not count.Q. Is there no claim if an R&D project is not successful?A. No. Success of the project has nothing to do with the eligibility. The claim does not get affected favourably or adversely if it is successful/unsuccessful.Q. Aren't large companies favored by CRA for this credit?A. No. In fact, on the contrary, incentives are greater for small-to-medium sized CCPC's.Q. Are SR&ED credits "a government grant"?A. No. These are tax credits on your investment activities and are granted to your company by CRA after your company has incurred eligible expenditures.Q. Would your Company have to disclose 'proprietary' information?A. Rarely. Although technical summaries to be provided by your company can contain technical details, you need not disclose essential proprietary information. Every CRA reviewer follows a strict protocol for keeping the utmost confidentiality and to safeguard every piece of information received from your company.Q. Would you be audited because you made an SR&ED claim?A. No. CRA conducts a limited financial review as a part of due diligence in verifying the eligible SR&ED expenditures at an average of about once in every two years. These reviews are limited in nature and they almost never trigger a general audit.And the winner is......Q. What is the catch to getting SR&ED credits?A. None. Period!
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Contact Us

388 Markland Street, Suite 101Markham, OntarioL6C 1Z61-888-418-7733info_SREDFunding.com

Welcome to SR&ED Funding,Our main process is:1Planning with needs analysis and SR&ED directed tax planning.2Preparing and Filing within prescribed deadlines with SR&ED stream identification.3Follow up with CRA and get you the money . ☺4Ongoing Advisory Services with post claim business and tax advice.Choose department to contact: Sales

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