Insights on SR&ED Tax Credits
Top SR&ED FAQs for Canadian Companies
SR&ED is one of the most valuable funding programs for Canadian companies doing R&D, but it often feels confusing or overly technical. Whether you are new to it or already claiming, questions always come up.At RDP, we work with innovative companies across...
Continue Reading
Claiming Contractor Fees for SR&ED: Practical Guide
When it comes to maximizing your Scientific Research and Experimental Development (SR&ED) tax credits in Canada, contractor expenses can be a significant component. However, there are specific rules and limitations involved in claiming these expenses. In this blog...
SR&ED Expenditure Limits and Potential Changes to the Program
One of the most common questions we get is: What’s the limit on SR&ED tax credits a company can claim each year? The short answer: There is no overall cap on the amount of SR&ED tax credits a company can receive. However, the rate and refundability of the...
Combining SR&ED with Government Grants to Maximize Funding
When it comes to funding innovation in Canada, the SR&ED (Scientific Research & Experimental Development) Tax Credit program is one of the most generous programs available. But what many companies don’t realize is that SR&ED doesn’t have to stand alone—it...
SR&ED Claim Preparation : A Brief Summary
When it comes to SR&ED claim preparation, it’s essential to understand the key differences between an SR&ED project and a company’s R&D activities. Below is a brief summary of the differences between SR&ED projects versus company R&D projects....
SR&ED Audit Preparedness: Essential Strategies for Large Companies
For larger companies, managing SR&ED claims can be a complex and highly detailed process due to the volume of projects, employees, and data involved. Effective tracking methods are essential to ensure that SR&ED activities are identified, documented, and...
How CRA Assesses SR&ED Claims : Expert Insights & Key Criteria
The SR&ED tax credit program is coming up to its 40th anniversary. While technology has changed significantly over this period it is interesting to note that the criteria and definition of what constitutes as SR&ED on a technical perspective has not changed...
SR&ED 2024 – A Year-End Summary
As we look back on 2024, we’ve put together a summary of the most salient highlights in the SR&ED tax credit program. AI permeates all businesses At the close of the government’s 2023-2024 fiscal year, software development accounted for the largest...
Navigating Recent Changes in SR&ED Claims: What You Need to Know
At RDP Associates, we’re committed to staying ahead of regulatory changes that impact SR&ED tax credits and government funding. A recent legislative update and a subsequent clarification from the Canada Revenue Agency (CRA) could offer significant benefits to your...
Watch Now: SR&ED, Clean Tech, IP Strategy, and Grants
Catch Up on Our Recent Webinar with Innovance.ai We recently partnered with innovance.ai to host an insightful webinar covering the latest updates and strategies in business funding and innovation. We shared our extensive knowledge of SR&ED tax credits and...
Prepping for non-dilutive Government funding in 2025
With only two months left in 2024, companies should be strategizing to align their 2025 projects with various government incentives. As we get deeper into the government’s fiscal year the amount of funding diminishes, and grant programs begin to close down. Grant...
The SR&ED landscape
The most recent statistics published by CRA are for the April 1, 2023 to March 31, 2024 government year. These statistics provide some insights and opportunities. SR&ED stats Overall, just over 21,500 SR&ED claims were processed. It is important to keep...
IRAP vs. SR&ED: What Are the Differences?
SR&ED and IRAP are among the most popular and sought-after government funding programs in the Canadian innovation ecosystem. Both programs are federal and related to R&D activities with significant impact on the completion of new product development and...
What’s an FTCAS? Should You Be Worried About Your SR&ED Claim?
You’ve just submitted your first SR&ED tax credit claim and naturally, you're feeling a bit anxious. Will you get audited? A few months later, you receive a call from an SR&ED auditor at the CRA, wanting to talk. Your mind may race with questions: Are we...
Four Key Tips for Writing Strong Technical Narratives for SR&ED
The SR&ED tax credit program is a valuable financial incentive that helps Canadian businesses offset the costs of research and development (R&D). However, to successfully claim SR&ED tax credits, companies must provide technical narratives for each project...
Unexpected Industries That Qualify for SR&ED Tax Credits
Technology is always changing, and it’s easy to forget that these advances impact every industry. When we think about SR&ED tax credits, tech and manufacturing companies usually come to mind first, which makes sense since about 80% of claims come from these...
Simplifying Your SR&ED Claims With The Innovation Connection Program
Navigating the world of SR&ED (Scientific Research and Experimental Development) tax credits can be challenging. But with our Innovation Connection Program, you’re not just making the most of your R&D investment—you’re simplifying the process and setting...
SR&ED: Software Development Trends in 2024
At the end of the government's 2023-2024 fiscal year, software development accounted for the largest number of SR&ED claims representing 39.3% of all claims filed. Second to software development was electrical engineering at 15.6%. Clearly, year over year software...
SR&ED for Medical Professional Corporations (MPC’s)
As most advisors know, the SR&ED tax credit program applies to a wide variety of industries and businesses. Our experience is that work involving medical research generally meets the SR&ED tax credit criteria as many technological uncertainties need to be...
SR&ED for Manufacturing – Optimizing Your Claim
Manufacturing has traditionally been a prime area eligible for SR&ED Tax Credits. With its inherent focus on innovation, process improvement, and technological advancement, the manufacturing sector continually generates opportunities for qualifying research and...
Canada’s 2024 Federal Budget: A Strategic Blueprint
Canada's Federal Budget for 2024 presents a robust plan aimed at nurturing innovation and fostering sustained economic growth across Canada. As we delve into the budget's details, it becomes evident that the focus is sharply on enhancing research and development,...
New RDP Program For Start-Ups
We are pleased to announce a new program at RDP Associates that helps selected start-up companies receive better access and support to the SR&ED tax credit and government grant programs.When a client signs up for this program, they will receive: Regular...
Tax Credits And Grants Planning For 2022
This is the time of year when many companies start planning for 2022. As there are a multitude of tax credits and grants available to companies, many should consider these programs as part of their planning.One way to do this is for RDP to review their plan for 2022...
Potential Pitfall In Obtaining Government Assistance
Both the Federal and Provincial government offer assistance in the form of repayable contributions. FedDev is an example where in essence, the assistance is like a loan in that the funds you receive are repayable. However, typically the funds received do not...
Claiming Artificial Intelligence (AI) And Machine Learning (ML) Projects For SR&ED
Artificial intelligence, including machine learning and deep learning has grown in Canada to be a very important area of research and development in many industries such as; health sciences, security, robotics, autonomous systems, speech recognition, computer...
How Does SR&ED Work? An Infographic on SR&ED Tax Credit Rates
The Scientific Research & Experimental Development (SR&ED) Tax Credit is a federal tax incentive administered by the Canada Revenue Agency (CRA) since 1986. Its purpose is to encourage Canadian businesses of all sizes and in all sectors to conduct research and...
Decrease in the number of SR&ED Claims and the Challenges of CRA Audits
Federal Government statistics released for the last four years confirm that the number of companies filing SRED claims has steadily decreased by over 15% from roughly 22,370 in 2014 down to 18,850 claims in 2018! Some people have attributed this to a decrease in...
How Do You Choose the Right SR&ED Consultant?
When it comes to selecting a SR&ED consultant, the task is usually assigned to the CFO, or in smaller organizations, the owner. The selection process is typically based on receiving recommendations from a trusted friend or business associate. However, it is worth...
Had an Unpleasant SR&ED Claim Review by CRA?
The SR&ED tax credit program is odd in that from a tax policy viewpoint it is an incentive program, nudging companies to carry out more R&D in Canada and develop innovative products and processes. However, because the program is administered by CRA, one must...
Joseph Cafazzo on Digital Health in Canada
Dr. Joseph Cafazzo is a biomedical engineer, educator, and researcher. He is known for his work on the design of health technologies and how they facilitate patient self-care of complex chronic conditions. He has advised and conducted research for public sector policy...
Whose SR&ED is it Anyway?
When companies develop new products, be it software, machinery, consumer goods, or technology, it is not unusual for the corporation, particularly SMEs, to hire a contractor to perform some or all of the work. Historically, over 90% of the time, these corporations...
Do you need to perform testing for SR&ED eligibility?
Most companies that claim SR&ED tax credits will never end up in court over dispute of an assessment by CRA. However, how the courts view SR&ED cases helps companies understand both the pitfalls and opportunities. In the case of Life Choice Ltd. V The Queen...
Canada’s Future Lies in AI. What Does That Mean For My Business?
There’s a lot of buzz these days about Canada as an AI hub. Over the past several years, Canada has made a name for itself as a leader in the field, with centres of expertise in Montreal, Toronto-Waterloo and Edmonton. Our universities have been global leaders in this...
SR&ED Incentives in Ontario Budget Like OITC
The recent 2018 Ontario budget announcement includes some changes designed to make it easier to grow your business. Ontario-based businesses can benefit from increases to the provincial funds available under the Scientific Research & Experimental Development...
Are There Grants for the Life Sciences-Biotech Industry?
Most people are surprised to learn that Canada gives out more funding than most other countries by way of businesses grants. Most grant programs are generic, which means a funding program can be applied to by many businesses from a whole range of industries. Apart...
Is SR&ED Properly Rewarding FinTech Companies?
Filing for SR&ED tax credits today in Canada is facing a new reality. CRA now screens over 60% of SR&ED claims and carries out site audits on at least 20% of them. Moreover, depending on your geographic location, when site audits are carried out, claims are...
The State of SR&ED Tax Credits: How Did We Get Here?
As you may have seen, back in July 2017, the Canadian Advanced Technology Association (CATA) published its “Update on SR&ED Tax Credits” and the news was concerning, to say the least. The headline news was that in the 7 years from 2009 to 2016, the aggregate tax...
A Look at SR&ED and Beyond
The following piece was originally published in IT WORLD Canada The SR&ED tax credit program has been in existence since 1985. The Budget Papers published in 1985 stated that the purpose of the program was to keep Canadian businesses competitive and growing. Since...
How Canada is Conquering the FinTech Space
Insights from Industry Leaders Canada’s FinTech industry today is one of the most dynamic—and for good reason—the coolest industries on the Canadian tech scene. All signs point to its ability to fundamentally reinvent the existing order in the country’s financial...
Lessons Learned: SR&ED and New Product Development
I don't like to prepare for it Most companies hate preparing for, or participating in SR&ED claims. It goes without saying that preparations for SR&ED and efforts to ensure eligibility of work in SRED take an enormous amount of time and internal resources. But...