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Get your SR&ED claim done right with Canada’s market leaders
G6 is a full-service SR&ED consulting firm in Calgary, 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.
The Scientific Research and Experimental Development (SR&ED) program is the largest tax credit program in Canada. SRED is an R&D tax credit program administered by Canadian federal and provincial governments that offsets qualifying salary, overhead, material, and subcontractor costs incurred by businesses conducting SRED work. Learn More
G6 Consulting can work with you to build your claim, co-ordinate with your accountant, submit your claim and get you your cheque. No cost until you get paid
Check our our SR&ED overview page to learn more about SR&ED and how to qualify
Check out our SR&ED calculator to get an idea of how big your SR&ED cheque could be
G6 SR&ED Consultants in Calgary can provide a free no-obligation consultation. Contact us today
Calgary is the best, most lucrative place to file SRED claims in Canada for first-time SRED program filers. In 2020, there was no provincial SRED funding awarded for SRED claims filed in the province. That changed big time on January 1, 2021. On that date, Alberta implemented a new provincial SRED piggyback program called IEG, the Innovation Employment Grant. The IEG is a lucrative top up for all SRED claimers. The IEG is an 8% refundable credit awarded on the first $4M of expenditures for both CCPCs and large/foreign-owned corporations. That 8% is equivalent to Ontario OITC’s 8% and slightly worse than neighbor BC or Saskatchewan’s 10% provincial credits. But here’s the kicker. For first time filers, Alberta tops up the IEG with an additional 12% refundable credit! Wow! That means first time filers receive 20% provincial credits and the standard 35% federal ITCs (for CCPCs). What’s the bottom line? If you consult G6’s handy online credit calculator, https://www.g6consulting.ca/calculator/, you’ll see that Calgary SRED first time filers earn a combined 74.4% refundable credits for all qualifying T4 SRED salary claimed. That is the highest rate in Canada! And the highest R&D rate in the world!
The 12% extra IEG funding will also impact, to a lesser extent, second year Calgary SRED filers and indeed any Alberta SRED filer with increasing year over year claim sizes. SRED Calgary filers earn the 12% bonus IEG on all incremental SRED expenditures above the company’s prior two-year average SRED expenditures. This is a bit complex to write down. But the positive impact is easy to see by plugging figures into the G6 online calculator! The bonus 12% IEG credits are particularly achievable for second year SRED claimers, or those Alberta companies who haven’t submitted a claim in the past two fiscal years. Contact G6 Consulting today Book a meeting with Greg at G6 to see how much SRED you may be in line to earn!
Alberta has a non-harmonized tax system. So SRED Calgary filers will need to apply and receive their SRED funding separately from both the feds and Alberta. The claims are administered, just like other provinces, solely by the CRA. Getting the extra IEG credits is just a necessary extra step. G6 will do all the necessary paperwork and get you all the funding to which you are entitled.
Oil and gas exploration is a barred activity for SRED claiming. In fact, this restriction covers all resource exploration. Some companies know or learn about this restriction, then they jump to the mistaken conclusion that they can’t take advantage of SRED funding. For many oil and gas companies, this is a mistaken assumption. Many ancillary activities undertaken by oil and gas companies are SRED claimable. New and improved product development, new, improved process development – all SRED claimable! Make sure you don’t shortchange yourself. Oil and gas firms, contact G6 Consulting to learn what areas of your work qualify for SRED funding!
There are new carbon capture credits coming proposed in the 2021 federal budget. These credits will cover activity around carbon capture, utilization, and storage (CCUS), These carbon capture credits are particularly relevant to SRED Calgary recipients. The CCUS credits are particularly targeted to the oil and gas and resource sectors. Credits will be available starting in 2022 of up to 60% for direct air capture (DAC) projects, and 37.5% refundable credits for investing in carbon capture equipment and technology. These include carbon use, transportation, and storage.
The details for the CCUS credits are not yet released. Smart SRED Calgary firms can position themselves by starting carbon projects that will reap SRED credits now and put themselves in position for CCUS credits when the program details are finalized. Just like IRAP and other R&D credits, firms are always best served to take advantage of all incentive programs for which they qualify. The total funding you receive for combining SRED, IRAP and CCUS credits is always greater than applying for individual programs alone. Call G6 Consulting to get best positioned to maximize your credits today.