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SR&ED Consulting For the Medical Professional Corporations (MPCs)

Enhancing Healthcare Innovation with SR&ED Consulting for Medical Professional Corporations (MPCs)

Medical Professional Corporations (MPCs) play a crucial role in advancing healthcare through research and innovation. The Scientific Research & Experimental Development (SR&ED) program recognizes this contribution by offering tax incentives for qualifying projects. At G6 Consulting, we provide expert SR&ED consulting services for MPCs, ensuring that your efforts in medical research and development are fully rewarded.

Understanding SR&ED for MPCs

The SR&ED program is a federal tax incentive designed to encourage Canadian businesses, including MPCs, to conduct research and development activities. MPCs can leverage this program to receive both refundable and non-refundable tax credits for eligible R&D activities, supporting the development of new medical technologies, treatments, and methodologies.

Qualifying SR&ED Activities for MPCs

Medical research and innovation involve complex challenges and the pursuit of technological advancements. Qualifying SR&ED activities for MPCs may include:

  • Developing new medical devices or diagnostic tools
  • Conducting clinical research to improve treatment methods
  • Innovating in medical software or health information systems
  • Enhancing surgical techniques or medical procedures

SR&ED Tax Credits for MPCs

MPCs can benefit from two types of SR&ED Investment Tax Credits (ITCs):

  • Refundable tax credits: These can be converted to cash refunds, providing immediate financial support for ongoing research.
  • Non-refundable tax credits: These can be used to reduce taxable income, offering significant savings for profitable corporations.

Canadian-controlled private corporations (CCPCs), including MPCs, can claim a 35% refundable ITC on the first $3 million of eligible expenditures, with a 15% non-refundable ITC on any additional expenditures. Non-CCPCs can claim a 15% non-refundable ITC on all qualifying expenditures.

Key Considerations for MPCs

To maximize the benefits of the SR&ED program, MPCs should:

  • Identify research activities that address technological uncertainties in the medical field
  • Demonstrate how their work contributes to the advancement of medical science or technology
  • Maintain comprehensive documentation of R&D activities, including experimental protocols, clinical trial results, and technical reports

G6 Consulting: Your SR&ED Partner for Medical Professional Corporations

At G6 Consulting, we understand the unique challenges and opportunities faced by MPCs in the healthcare sector. Our specialized SR&ED consulting services ensure that your innovative medical research is accurately identified, and you receive the maximum tax credits available. Let us support your mission to improve healthcare outcomes while optimizing your financial incentives.

Contact us today to learn more about our tailored SR&ED consulting services for Medical Professional Corporations.

Get your SR&ED done right with G6 Consulting Inc – Canada’s R&D Tax Credit Experts!

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 out our SR&ED overview page to learn more about SR&ED and how to qualify

Contact an Expert for a free no obligation consultation to see if your business can qualify

Check out our SR&ED calculator to get an idea of how big your SR&ED cheque could be