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...
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...
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...
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...
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 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...
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