SR&ED Tax Credit (Views: 6123)
Wed, 09 Feb 2011
The Canadian Scientific Research and Experimental Development (SR&ED) tax credit program is a multi-billion dollar federal and provincial government incentive program to encourage innovation and leadership by subsidizing eligible R&D expenditures. The Canadian SR&ED tax credit program competes fiercely with other R&D tax credit programs around the world to attract and retain the best R&D teams and projects.
With the SR&ED program, all projects that attempt technological advancement, have technological uncertainty, and follow a systematic approach are potentially eligible for a refundable tax credit (or reduction of taxes payable) for related eligible R&D expenditures. This funding program is not only offered to large multinational, but also to small and medium firms that represent about 75% of the businesses benefiting from this program.
The details on how to qualify for, latest changes/challenges, tips for audits, and other aspect will be the subject of future blogs. For more information on the program, visit the Canada Revenue Agency website at http://www.cra-arc.gc.ca/sred/
With the SR&ED program, all projects that attempt technological advancement, have technological uncertainty, and follow a systematic approach are potentially eligible for a refundable tax credit (or reduction of taxes payable) for related eligible R&D expenditures. This funding program is not only offered to large multinational, but also to small and medium firms that represent about 75% of the businesses benefiting from this program.
The details on how to qualify for, latest changes/challenges, tips for audits, and other aspect will be the subject of future blogs. For more information on the program, visit the Canada Revenue Agency website at http://www.cra-arc.gc.ca/sred/
Leave a comment
Please complete empty fields.
