Preparing a SR&ED claim doesn’t have to be confusing, and with the help of an experienced SR&ED consulting firm that provides expert assistance throughout the entire process, you can be sure your claim meets the proper requirements for government funding. We have SR&ED Specialists in our firm that will provide you with the SR&ED opportunities that your company may be missing right now.
All government funding is to be given where it is due, regardless of other returns you qualify for. Our consultants explore your eligible expenditures, and once processed, you receive a percentage of the approved spending as a tax credit. This amount is completely separate from any other tax refunds you have availed of in the past.
There has been a focus on technological advancements in recent years when it comes to SR&ED qualification. This trend is only a reflection of the necessary adaptation to the Canada’s Revenue Agency (CRA) that requires you to describe the foundation of technology that allowed your advancement to overcome an existing problem. This information is stressed in the new claim criteria, but many see it as a switch to a purely technology-based eligibility.
It’s common for businesses to think they have an insufficient amount of documentation to file a claim. In reality, you may have evidence accessible to you that you wouldn’t expect to serve as proof of development. Pieces of information like dated purchase orders, or dated contracts with customers can prove when the work you were part of occurred. Keeping a SR&ED folder or file case is a proactive way to avoid limited documentation, as you can add to the file throughout the year.
Sorting through the documents that show how much was spent on SR&ED efforts can be difficult when you don’t know what you’re looking for. Our consultants look for the following records when claiming expenditure:
SR&ED salary or wages
Money spent on materials for SR&ED
Contract expenditures for SR&ED performed by a claimant
SR&ED lease expenditures
SR&ED overhead and other expenditures
SR&ED capital expenditures
Ensure that your company doesn’t miss out on key expenditures, and receives the best return possible when you invest in our SR&ED Consulting services. Using a proven streamlined process to guarantee favourable results and success, business owners like you can file an SR&ED claim without lifting a finger. Instead, you can give your other business operations or product and development efforts your undivided attention.
CI Solutions will work with you through every step of the SR&ED process from helping to identify SR&ED eligible projects to when you receive your tax refund. However, how you spend your refund is completely up to you!
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