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Determining If A Project Can Receive SR&ED Tax Credits

The Scientific Research and Experimental Development (SR&ED) program is a tax incentive program administered by the Canada Revenue Agency (CRA) that provides over $3 billion annually to Canadian businesses for work they have done to resolve technological challenges and improve their technological knowledge base.

Like other tax incentive programs, SR&ED is governed by the Income Tax Act. The prosecution of SR&ED is defined as “…a systematic investigation or search carried out in a field of science or technology by means of experiment or analysis… for the advancement of scientific knowledge… or for the purpose of achieving technological advancement for the purpose of creating new, or improving existing, materials, devices, products, or processes, including incremental improvements thereto…”.

Read more HERE: https://www.mentorworks.ca/uncategorized/receive-sred-tax-credits/

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