What qualifes for SR&ED?
The CRA’s new two requirements:
"Why" and "How”
The "Why” Requirement
Your work must generate or discover of new knowledge that advances your understanding of technical issues that present challenges you need to resolve. You must perform experiments by measuring some data to test your hypotheses.
The "How” Requirement
Work must consist of a systematic investigation through experiments or analyses. Generating a hypothesis consistent with known facts, identifying a possible solution to your problem, performing tests and development of logical conclusions based on experiments and analysis.
Recover R&D expenses you've already incurred!
You must generate new technical knowledge… and understand CRA’s jargon:
“Technological Uncertainties” are problems you can’t solve by applying existing knowledge;
“Technological Advancements” are solutions, the new knowledge you discover.
Systematic Investigation
Planning, design, data collection and testing.
Testing and analysis
to verify your hypotheses.
Documentation
Records of who did what, when. Progress reports. Data from experiments.
Contractor's fees
Recover 33.2% of fees paid to contractors in your province (28% if they’re located elsewhere in Canada.
Building prototypes
You’ll recover 41.5% of costs of materials “consumed”, i.e., used up, rendered useless (<10% of their cost)
Supervision
75% of your CEO’s salary
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No need for BIG contingency fees!
Most SR&ED consultants have an accountant and a technical writer.
I both functions, and charge less.
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