Who can get funds
SR&ED (Scientific Research and Experimental Development) is the largest and most important tax incentive program in Canada.
Every year the government processes approximately 20,000 applications and dispenses approximate $ 4 Billion in tax relief and cash refunds to Canadian industry. But yet, two-thirds of eligible companies do not apply. Many companies that do claim are rejected due to poor presentations and insufficient documentation. We can help establish your claim.
Dr Kanayalal Raina Inc. offers the most comprehensive and sophisticated SR&ED solution in Canada. We have talented technologist consultants and associates who are experts in SR&ED.
We will provide you with several options for documentation and methodology for compiling compliant evidence to corroborate your claim. We provide evidence support services, SR&ED check-ups throughout the year, plus professional representation during audits
SR&ED funds are available if you are ....
1. Developing a new product, product line, and/or service?
2. Enhancing the capabilities of an existing product (e.g. automation or range of applications)?
3. Improving the performance characteristics of an existing product. (e.g. speed, weight, tolerances, efficiency, green, etc.)?
4. Enhancing the capabilities beyond the current equipment's operation?
5. Enhancing existing production processes to gain increases in, efficiency, productivity or reducing reject levels, emissions, etc?
6. Adopting or increasing automation of an existing process?
7. Investigating the development of new materials?
8. Experiencing large early production runs that are either scrapped, recycled, or sold at a discount?
9. Building pre-production prototypes for products other than what is listed above?
10. Developing or modifying your business software systems?
The Eligibility Criteria for the SR&ED Program,
- Increase Technological Advancement in your company
- Overcame Technological Uncertainties
- Have Technological Content/Systematic Investigation
All 3 items MUST be demonstrated for each SR&ED project/activity.
Technological Advancements: Attempted to EXCEED existing knowledge benchmark (do not need to succeed) in your company.
- Identify the level of current knowledge in your company (i.e. current shelf life of product - 10 days)
- Identify the level of desired level of knowledge (i.e. shelf life of product - 30 days)
Technological Uncertainties: Must be no guarantee of success at the start of the project/activity.
- Key technical knowledge to achieve Technical Advancement not know or not available to your company
- Not available in the public domain
- Must be solved by trial and error method
- Series of failures
- Gradual progress towards goal
Technological Content/Systematic Investigation:
- Define objective
- Define success criteria
- Conduct experiments
- Collect data
- Style change
- Use results to refine ideas/approaches
How do you get funds
Define your business overview and environment within the strategic area
Vision: Define your short to long term objectives.
Create Strategic Issue name.
Briefly identify & describe Strategic Issues and challenges to be addressed in order to achieve objectives.
Describe Activity.
Phrase Conclusion:
Results vs. Initial Expectations
Add document description
Have all Supporting Documentation Ready