The SR&ED (Scientific Research and Experimental Development) investment tax credit is the largest Canadian tax incentive aimed at helping companies mitigate the risks associated with development and improvement of products and technological processes. Through the SR&ED program approximately $3 Billion is dispersed to over 20,000 companies annually.
The Scientific Research & Experimentation Development (SR&ED) Investment Tax Credit (ITC) is a tax incentive legislated by the Income Tax Act and administered by the Canada Revenue Agency (CRA). Under the SR&ED program, qualifying companies are eligible for partial reimbursement of certain costs related to their R&D work. This reimbursement comes in a form of a refundable or a non-refundable tax credit. The amounts of credits and their structure greatly depend on the type and business structure of the applying entity and the type of costs incurred on any given project. The rebate can be as much as 68% of eligible costs and can be claimed in cash.
MCN can help your organization navigate through the complexities of the Scientific Research and Experimental Development (SR&ED) program to maximize your tax refund/credits. MCN’s consultants will prepare your SR&ED claim in short order, without the need for your technology, finance, and operations teams to deviate from their core activities.
MCN has successfully prepared and filed over a thousand SR&ED claims for a wide range of companies; from large publicly traded companies, to small start-up companies. For more information about the SR&ED program, and Mobile Capital Network’s services, please contact us.