We are happy to announce the launch of a dedicated resource (SredReady.ca) for the Canadian Scientific Research and Experimental Development (SR&ED) program. The resource will promote the benefits of this program for innovative technology companies and highlight our product as a solution for SR&ED tax refund claims.
About SR&ED program
The Scientific Research & Experimental Development (SR&ED) program is Canada's largest tax incentive program designed to encourage R&D activities. For SMBs, particularly Canadian-controlled private corporations (CCPCs), it offers:
Enhanced Benefits for Small CCPCs
- Up to 35% refundable tax credit on first $3M of qualified R&D expenses
- Additional provincial credits ranging from 10-30% depending on location
Key Eligible Activities
- New product development
- Process improvements
- Technical problem solving
- Software development for internal use
- Experimental development
Main Qualifying Costs
- Wages for employees doing R&D
- Materials used in R&D
- Subcontractor fees
- Equipment used for R&D
Small & Medium Businesses Advantages
- Cash refunds even if no taxes owing
- Simplified claim process for smaller claims
- Higher credit rates compared to larger corporations