Scientific Research & Experimental Development (SR&ED) program is the largest R&D tax incentive program in Canada. Our SR&ED (SRED) Consultants build your claim, complete all the paperwork, submit your claim and get you your cheque.
If you have already filed your SR&ED and are now under Audit, G6 Consulting offers premium audit defence service.
We consult businesses on IRAP, IDMTC credits, and all other government grants.
Our consulting team can help you navigate all of these other government grants and advise you on the best course of action.
G6 helped us with our SRED and we successfully filed our taxes. Greg provided one-on-one consultation time explaining the ins and outs of the SRED program and required minimum help from us to draft our SRED documents. Totally recommend them if you are an R&D firm looking to file your taxes & apply for SRED.
"We never knew that our business could qualify for SR&ED until our consultation with G6 Consulting. During our call, Greg was able to find an area of our business that qualifies and the impact on our bottom line has been astounding."
The number one thing I noticed switching from my accounting firm to specialized experts in G6 is not only the expertise, but the customer service. Greg is a great project manager. I was able to remain hands-off in large part because of the care and initiative he took in contacting the right people to get the job done for us.
The Scientific Research and Experimental Development (SR&ED, SRED, pronounced “SHRED”) program provides compensation to offset eligible expenses incurred by businesses in Canada. The program is administered by the Canada Revenue Agency (CRA) and is the largest tax credit program in Canada. $4 Billion is distributed to 20,000 companies annually through the SR&ED program.
Your company doesn’t need scientists, lab workers in white coats, PhDs, or P.Eng’s to qualify for SR&ED R&D tax credits. Federal government statistics show that 98% of credits are awarded for experimental development work (ie not classic R&D work). If you design new products or process, carry out IT projects, invest to build your stock of proprietary knowledge and best practices, you may qualify for SR&ED credits. Custom IT work qualifies. Failed and abandoned projects qualify!
G6 Consulting Inc are the full-service market leaders in building and submitting SR&ED claims in Canada. Our experts have submitted thousands of successful claims over a variety of industries. With over 12 years’ experience trust your SR&ED claim with the best SRED Consultants.
G6 Consulting has one line of business and one focus. We work to maximize your SRED credit claims with the federal and provincial governments. We are 100% customer-centric in all our work. If we can’t get you tax credits from the government, we don’t get paid.
All G6 Consulting work is performed in-house. We closely guard your financial and proprietary technical information. All our work is covered by our standard Non-Disclosure agreement. We build your claim, co-ordinate with your accountant, submit your claim and get you your cheque. No excuses.
Contact the #1 SRED Consultants in Canada today!
“SR&ED funding has made it possible for us to pursue our goal of improving the quality of life for children with disabilities. G6 Consulting made this process easy and straightforward, working on our schedule. They are the clear choice for a SRED Consultant”
MANMEET MAGGU, CEO, Trexo Robotics
G6 Consulting are far and away the most knowledge SR&ED consultants that I have come across. Instead of having my claim written by a new associate each year, Greg Hills personally prepares all claims for submission. We have never had an audit since contracting G6.
Trivelle Simpson, President, Chelle Service Capital
G6 Consulting Inc is a consulting firm with a 14-year track record of excellence solely focused on helping companies access the SR&ED Tax Credit Program. G6 is a full-service SR&ED consulting firm, we prepare your claim, complete all of the paperwork, submit your claim, and handle all post submission administrative duties until your claim is approved, paid, and finalized. We only get paid after your claim is fully approved and paid out to you.
G6 is led by Greg Hills. Greg’s undergraduate degree is in Mechanical Engineering from Queen’s University at Kingston. Greg has an MBA from University of Western Ontario’s Richard Ivey School of Business where he was an Ontario Graduate Scholar. Greg has been working in SR&ED consulting since 2008. Assisting Greg with SR&ED writing at G6 are two experienced senior consultants, Mark Krebs and Dan Paine. Mark has a BSc in Physics from U of Toronto and an MSc. in Computer Science from Carnegie Mellon University. Mark has written hundreds of SRED technical reports extending back to the early 1990’s. Dan has a BSc in Biochemistry from the University of Guelph. He has been writing SRED technical reports on a full-time basis for the last 12 years. Dan started his technical career engaged in R&D activities in the printing industry for 8 years.
Unlike some larger companies, G6 is a consultancy firm solely focused on SRED and we take a customized approach to each client. We provide you with a permanent high level dedicated technical contact and financial/operations contact who become intimately familiar with your account and tailor our process to serve your needs.
G6 also has specialized accounting and legal partners that are intimately familiar with the SR&ED program and our process to ensure that you are covered from all angles with respect to SRED. This service can be invaluable to people with complex legal structures, cross-border SRED optimization, or for start-ups and growth companies accessing VC or public funding. As an example, G6 performs all the SRED Consulting for companies participating in the University of Toronto Hatchery incubator.
We offload the maximum amount of work on your end. We maximize your refund while strengthening your standing within the CRA.
If you want to know whether you qualify for SR&ED tax credits, G6 Consulting can perform a no-charge, free evaluation of your business.
Many companies fail to make a SRED claim because they falsely assume that the program is restricted to “High Tech” companies. The fact is, however, that virtually any company may have “pockets” of SRED activities going on at any given time. In general, if some of your staff are engaged in solving technological problems for which a solution is not readily apparent, there is a good chance that the work you are doing is fully or partially eligible for SRED credits. In many cases, the companies that receive SRED credits might be considered relatively “Low Tech” such as industrial manufacturers and agriculture firms.
The SR&ED application consists of two parts, an essay-style writeup detailing the technical detail of your work and administrative tax forms to assign expenditures to your work.
SRED consulting companies such as G6, will interview someone at your company who can speak about the R&D project that your business conducted and then we frame your work in the best possible light for the CRA in completing the 1500-word technical essay on your behalf.
G6 SRED consultants also complete the administrative SR&ED tax forms for you by gathering the payroll detail of employees involved in the R&D project as well as any subcontract and materials costs that your business incurred during the project and apply for the maximum SR&ED rebate that you are entitled to.
Finally, your SRED consultant will then submit your application to the CRA and handle all post-claim administrative duties until you receive your cheque from the government.
Any and all SR&ED reviews are conducted prior to the government approving your SR&ED claim and paying out your refund.
The government does not want you to have to set your SR&ED money aside in case of a future audit, instead, they want you to spend that money to hire more people and grow your business.
It is also important to note that an SR&ED review does not trigger a general audit of your corporation. SR&ED is administered by a separate division within the CRA and they do not poke around in your other business activities when reviewing your SR&ED claim.
You may hear your SRED consultant refer to SR&ED as a tax credit or as a grant. The correct classification of SR&ED is that of a tax credit, however, this confuses many who falsely assume that SR&ED credits will only offset taxes payable to the government. The fact is that for private Canadian companies, SR&ED is a refundable tax credit, therefore it functions as a grant in that your SR&ED money is given to you as a no-strings-attached cheque from the CRA once your claim is approved.
It is entirely feasible that a technology company can set up its SRED claiming such that it never pays federal or provincial corporate taxes again. And, this company gets an annual SRED direct deposit for the difference between credits awarded and corporate taxes owed. Talk about a competitive advantage!
Time to refund:
First time filers: 120 days from filing
Past SRED filers: 16 to 67 days after filing.
The last section of our post here breaks down the timeline in more detail
Your SRED refund is essentially a rebate on expenses that your business already incurred in a given prior fiscal year.
Once we identify a SRED qualifying project we can examine 3 types of expenses eligible for a SRED rebate. First, the payroll of employees involved in the project can be recovered at a rate of 65 cents of every dollar spent. Subcontractor expenses can be recovered at a rate of 35 cents on every dollar spent. Finally, scrap and prototype materials expenses involved in a SRED project can also be recovered at a rate of 35 cents on every dollar spent.
Assigning expenses to qualifying work is a straightforward process for a professional SRED consultant. You can use our calculator here to see how any given breakdown of expenses translates into SRED credits.