The Federal Government of Canada recognizes that undertaking scientific research and experimental activities to develop products and services that can potentially improve the lives of many Canadians is a public service. Due to this, Scientific Research and Experimental Development (SR&ED) incentives can be claimed by researchers and companies, which can accrue towards funding for future projects. But do you know exactly what activities and expenditures can qualify? With the help of SR&ED consultants in Calgary, Edmonton, or Toronto, you can correctly identify these qualifying measures, and file a stronger claim.
With the help of SR&ED consultants, you can identify if any expenditures your company in Calgary, Edmonton, or Toronto made in the past year count towards scientific research or experimental development that the SR&ED Program rewards.
Expenditures that qualify for SR&ED incentives include:
As your company incurs expenses towards scientific research and development initiatives, it is also important to ensure that these were spent towards activities that indeed qualify for SR&ED incentives. To ensure your qualification, it helps to review the activities you undertook in the past year with SR&ED consultants in your area of operation, such as Calgary, Edmonton, or Toronto.
Based on the SR&ED guidelines, activities that qualify for incentives are basically work undertaken for the purpose of achieving technological advantage. This includes creating, or improving existing devices, materials, processes, or products. You don’t even have to achieve a breakthrough to qualify, as even incremental improvements to current technology, materials, products, and process can be eligible for SR&ED incentives.
Eligible SR&ED activities may include experimental development, basic research, and applied research:
To check if the work you performed falls under any of the three eligible activities, it helps to screen your projects with SR&ED consultants.
When preparing your application, it also helps to take note of activities that are not eligible for SR&ED incentives. Your SR&ED consultants will take the following activities off the application you submit: