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SR & ED Tax Credit Program
Many organizations are engaged in Scientific Research & Experimental Development on a regular basis without even realizing they are eligible for SR & ED tax credits. The SR & ED federal and provincial tax credits programs provide incentives to promote Canadian research and development by absorbing some of the costs associated with its risks.
Tax credits for SR & ED in Quebec are among the most generous in the world and, in many cases, can reach 80% of eligible expenses. These credits are often refundable and added directly to your profits.
Eligible activities include:
- Designing new products or processes
- Enhancing existing products
- Software development
- Refitting equipment for new uses
- Creating new manufacturing processes
- Automation of existing processes
Project eligibility is based on compliance with three specific criteria. The Solertia SR & ED department specializes in determining eligibility, preparing supporting documents, and helping you take the following steps:
- Identifying eligible projects
- Preparing technical reports
- Identifying eligible expenses and maximizing tax credits
- Compiling development costs and preparing legally prescribed declaration forms
- Implementing a system for recording costs and compiling documentation relating to future projects
- Assisting during audits and negotiations with government authorities
The Solertia SR & ED department is composed of engineers and tax professionals. They are specialists in this domain, with years of experience to help guide you through a complex process.
For more information about our SR & ED services, please contact us for a free consultation.
