The Canadian government encourages businesses of all sizes to conduct research and development through the (Scientific Research and Experimental Development) SR&ED incentive program. This initiative provides businesses with tax credits to recover their R&D expenditures.
Research & Development Tax Credit (SR&ED) Services
Helping Companies Secure & Maximize R&D Investment Tax Credits
Canada offers some of the most lucrative research and development tax credits in the world, ranging from 15% to 50% of eligible SR&ED costs. For some private Canadian-controlled corporations, R&D tax credits are refundable even if tax is not owed. The SR&ED program represents the largest single source of federal government support for research and development.
The SR&ED program rewards companies that conduct research and development. The tax credits vary depending on the size of the business – small corporations to large corporations. To be eligible for this program, set criteria must be met, demonstrating an advancement in R&D, resolving uncertainty, or R&D related content whereas a form of scientific method was utilized or a systematic investigation, or work that is supported by some form of evidence and performed by qualified individuals.
MDP helps clients maximize their research and development tax credit entitlement while reducing administrative encumbrance. We collaborate with clients to ensure that time and disruption to their day-to-day operations is at a minimum while ensuring confidentiality and transparency. Our accounting firm is committed to providing clients with long-term financial benefits, education, and guidance.
Our Research & Development Tax Credits (SR&ED) Services can help you with:
- Preparation of technical reports for SR&ED projects
- Identification of eligible costs by project
- Assistance in claim defense during CRA audits
- Review and/or revise business processes for identification/tracking optimization
- Training staff on the requirements and criteria of SR&ED projects
- SR&ED Advisement
MDP is distinct from many other accounting firms. Our practice group consists of individuals dedicated to providing the highest quality research & development tax credit/SR&ED solutions. We assist clients with a wide range of tax services.