Scientific Research & Experimental Development (SR&ED) has been TSI’s core of expertise for many years. The federal SR&ED program, in existence since 1985, represents one of Canada’s efforts to encourage innovative development work and improve Canada’s competitiveness in the global marketplace. The SR&ED program provides funding to companies who are performing Basic or Applied Research, or, as is more commonly the case, Experimental Development. Any company who has developed new (or improved existing) products, processes, or materials, may be eligible to apply. Contrary to popular perception, you do not need to be a "high-tech" company to to be eligible. In fact, many of our clients are in what many would consider "low-tech" manufacturing sectors like woodworking, metal fabricating, tool & die, and construction products.
Administered by the Canada Revenue Agency (CRA), the SR&ED program enables companies of all sizes to reclaim a portion of spent development expenditures in the form of a tax credit and/or cash refund. In Ontario, for example, a private corporation can receive a refund of up to 73% of eligible expenditures. It's easy to see how utilizing the SR&ED program can make a substantial impact to your bottom line!
Yes, the process of filing for the refund on your own can be confusing and time consuming, but with TSI your claim will be filed quickly and professionally -- without burdening your company's resources. Find out why it is advantageous to utilize a TSI SR&ED consultant for help with your SR&ED filing.
Click on the links to the right for more easy-to-understand information about the SR&ED program, or contact us for further information.
