What is Scientific Research and Experimental Development (SR&ED)?
- An incentive program put in place by the federal government of Canada and provincial governments to encourage the development and/or improvement of products, processes and devices through scientific research and experimental development.
- The program has long been considered to be one of the best incetive programs in the world to encourage innovation
What is in it for me?
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Companies deemed to be carrying out SR&ED eligible projects can get back up to 35% (35 cents on every $1) of qualifying R&D expenditures.
What expenditures qualify?
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Labor
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Materials
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Equipment
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Sub-contracts
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Third party payments
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Overhead (can use 65% labor cost as proxy)
How do I apply?
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Describe the project(s) to show that the work was an attempt to advance technology or scientific knowledge.
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Submit financial information of the associated costs.
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Submit prescribed forms
How does Agnelum help?
- With our strong scientific and business background,we have the expertise to put the information together in a form that clearly shows the technological or scientific advancement associated with your work.
- Agnelum will work with you to ensure all the necessary information is captured and presented to the CRA in an acceptable form.
- Worked as RTA with CRA reviewing SR&ED projects. We have a clear understanding of the requirements and the process.
- Will work with you to ensure nothing is overlooked.
- We will work with you to streamline the process of capturing SR&ED activities and related expenditures.
- We will work with your staff to organize your record keeping for future claims.
- We will Represent you with the CRA including answering any questions to clarify any issues that may arise.