The Sheldon Group

SR&ED Claims

BLOG

The Sheldon Group is a member of the Quantum Group of Firms.

The Quantum Group hosts a multi-disciplinary team of tax practitioners to provide a full-service approach to SR&ED consulting. In addition to preparing claims, The Quantum Group also assists in appealing denied SR&ED claims.

SR&ED CLAIM PACKAGES

Choose the package that best fits your needs.
thesheldongroup-sred-and-tax-07

FULL-SERVICE SR&ED

This package includes:
  • Fully written technical reports
  • No up-front fees
  • Filing of SR&ED claim
  • Representation with CRA
  • Learning Centric Approach
  • Patent and prior art searches

ESSENTIALS SR&ED

This package includes:
  • Self-written technical reports
  • No up-front fees
  • Filing of SR&ED claim
  • Representation with CRA

SR&ED FAQs

The Scientific Research & Experimental Development (SR&ED) Tax Incentive Program began in 1944 with the aim of stimulating the Canadian economy by incentivizing research and development within the country. The Canadian government refunds over three billion dollars every year to approximately 20,000 companies every year through the SR&ED Program. Rules governing the program are contained in the Canadian Income Tax Act. SR&ED claims are submitted through the corporate tax turn (T2) and are found in the form T661. Companies may claim for consecutive years.

Since the program rewards innovation in science and technologies, companies driving these innovations should consider applying for SR&ED.

The definitions in subsection 248(1) of the Income Tax Act are quite broad and do not mention any specific industry. It can therefore be concluded that SR&ED credits are not generally restricted to certain industries or professions. There are few activities which are excluded from the program, but this does not preclude a company from claiming SR&ED for non-excluded activities.

Your company must:

  • acquire knowledge about technology or science through experiments, testing, or R&D
  • operate within Canada
  • have expenses in Canada as either salary (T4) or contractor invoices

The official eligibility criteria are: technological uncertainty, technological advancement and systematic investigation.

Approximately 90 minutes per project. We are a full-service SR&ED firm and we employ a team of technical writers and accountants dedicating to drafting technical reports, preparing, and submitting SR&ED claims.

The CRA’s service standard is 90 daysfor most SR&ED claims. This applies to claims submitted by Canadian Controlled Private Corporations (CCPC). For larger companies or non-Canadian controlled corporations, the service standard is 240 days. According to CRA’s website, this standard is reached on over 90% of claims that are filed with the corporate tax return.

Use an approach that enables you to capture all eligible activities, no matter how small. While most companies in Canada simply claim obvious SR&ED projects, often times many eligible activities are left behind.  The Quantum Group’s Learning Centric Approach can help you to receive every dollar you are entitled to.