SR&ED Tax Credits, Are You Missing Out?
January 12, 2016
SR&ED Tax Credits
The Scientific Research and Experimental Development (SR&ED) Program is designed to encourage businesses in all fields to conduct research and development in Canada. The business can be a corporation, individual, or trust to be able to claim the SR&ED tax credits. These tax incentives are claimed on eligible expenses for experiment or analysis work in science or technology that meet the requirements of the Income Tax Act.
This program allows businesses to deduct the research and development costs for tax purposes, as well as providing a federal investment tax credit. This tax credit can be used to reduce taxes payable and can result in a refund in some cases.
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