SR&ED Overview
The federal government releases $6 billion in credit payments under the Scientific Research and Experimental Development Program (SR&ED) every year.
The SR&ED is a tax incentive program offered by the Canadian government to companies that innovate and carry out research and development (R&D) work.
With the SR&ED, businesses and entrepreneurs could receive cash refunds for any qualified scientific and technological R&D work they conduct in the previous 18 months.
You can recover up to 70% in qualifying expenditure through refundable and non-refundable tax credits through the SR&ED. These credits help you lower your R&D costs, making your company’s growth and competitiveness much easier to attain.
In order to benefit from the SR&ED you have to submit a correctly filled claim in your tax return. With over 29,000 other companies asking for these credits, there’s no room for error.
Farah Malik & Associates Chartered Accountants provide end-to-end tax filing services to businesses seeking the SR&ED credit. By working with Farah Malik & Associates, you benefit from a comprehensive and convincing SR&ED claim that recovers part of your R&D costs.
Allow the CRA to Pay for Your R&D Costs
Incorrectly completed SR&ED schedules and lack of proper documentation are the two main reasons why many companies can’t recover their R&D spending.
That’s why our accountants and technical experts will treat your SR&ED claim like a cutthroat CRA audit. We’ll find and submit the evidence and file it to 100% accuracy so that there is no excuse to withhold the money you’re owed.
Stop Scrambling to Get Proof
Why stop at recovering your R&D spending to only this year? Why not get paid next year and beyond as well?
We’ll set your company up to easily recover your R&D costs in the future by training your team to track employee time, expenses, and other documentation properly.