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SR&ED Is a financial assistance for companies that uncover new technological knowledge SR&ED stands for scientific research and experimental development Companies Eligible Canadian companies receive a cheque that is equal to the sum of: 1. 68% of the qualifying salaries 2. 41% of the contract expenditures Help Received Public and non-Canadian companies receive investment tax credits which are useful to pay income tax Typically amounts range from 20,000$ to 500,000$ Non-eligible activities Marketing, sales, advertising Financing, business plan preparation System integration following directions from supplier Eligible Activities Knowledge received through experimental development Knowledge not attainable through common places such as internet, books or manuals Science Experts Advices on eligibility of the project completed in the tax year Science Experts Prepares technical description of the work accomplished Science Experts Prepares additionally required documentation Science Experts Amends the tax return to incorporate the proposed changes Science Experts Keeps track of your claim till your cheque is in the mail
