Scientific Research & Experimental Development
SR&ED tax credits are provided by both federal and provincial governments in Canada to encourage companies to invest in innovation. Up to 68% of eligible costs of innovation can be claimed to federal and provincial tax agencies for refundable tax credits.
Viner R&D has over 20 years of experience helping clients large and small recover a significant amount of their SR&ED costs from CCRA.
Who is eligible?
What projects are eligible?
What costs are eligible?
In general, the following costs can be claimed for eligible projects:
SR&ED Labour Costs
These are the direct labour costs involved in your project. To claim these properly, you need to have a timesheet system in place to track effort spent on each eligible project by each of your employees.
SR&ED Overhead
You have the option of using traditional overhead costs or the proxy method. The proxy method allows you to claim 65% of your base labour cost, but may limit other expenses that are eligible.
Materials
Materials consumed or transformed in the creation of prototypes.
Sub-contractors and Third Party Payments
The full amount of eligible payments to sub-contractors, universities and public research institutions.
Capital Expenses and Lease Costs
Capital equipment used on eligible projects can be claimed with certain restrictions.
SR&ED Labour Costs
These are the direct labour costs involved in your project. To claim these properly, you need to have a timesheet system in place to track effort spent on each eligible project by each of your employees.
SR&ED Overhead
You have the option of using traditional overhead costs or the proxy method. The proxy method allows you to claim 65% of your base labour cost, but may limit other expenses that are eligible.
Materials
Materials consumed or transformed in the creation of prototypes.
Sub-contractors and Third Party Payments
The full amount of eligible payments to sub-contractors, universities and public research institutions.
Capital Expenses and Lease Costs
Capital equipment used on eligible projects can be claimed with certain restrictions.
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