Have Canada’s top SR&ED experts defend your claim
In a rapidly advancing digital world, technology companies play a pivotal role in transforming industries, shaping societies, and driving economic growth. To motivate technology businesses to create innovative solutions within Canada, the government has instituted the Scientific Research & Experimental Development (SR&ED) program, offering SR&ED tax incentives to qualifying projects. At G6 Consulting, we provide specialized SR&ED Consulting for technology companies, helping to streamline the claim process and optimize tax credit rewards.
The Scientific Research & Experimental Development (SR&ED) program is a federal tax initiative designed to encourage Canadian businesses to conduct research and development (R&D) activities. Depending on their financial context, businesses can receive refundable or non-refundable tax credits for their eligible R&D contributions, effectively supporting the growth and diversity of Canada’s technology sector.
As technology companies strive to propel the digital frontier through the development of inventive software, pioneering hardware, and unique IT solutions, they commonly engage in qualifying SR&ED activities. Recognizing this, the SR&ED program has been tailored to accommodate the unique R&D practices within this sector.
Qualifying SR&ED activities in the technology industry may include:
Technology companies can avail of two types of SR&ED Investment Tax Credits (ITCs):
Canadian-controlled private corporations (CCPCs) can benefit from a 35% refundable ITC on the first $3 million of qualifying expenditure and a 15% non-refundable ITC on any exceeding expenditure.
Non-CCPCs, including foreign-controlled or publicly traded companies, can claim a 15% non-refundable ITC on all qualifying SR&ED expenditures.
To fully exploit the benefits of the SR&ED program, technology companies must:
At G6 Consulting, our understanding of the technology sector, complemented by our deep familiarity with the SR&ED program, enables us to provide top-tier consulting services. We facilitate the accurate identification of eligible projects and ensure that our clients realize the full potential of their tax credit opportunities.
Leverage the benefits of the SR&ED program to fuel innovation and growth within your technology firm. Get in touch with us today for specialised SR&ED Consulting for technology companies.