Carney’s Tuesday Budget Fast-Tracks New SR&ED Enhancements
The accounting treatment of SR&ED tax credits in Canada is complex
Get your SR&ED claim done right with Canada’s market leaders
Software developers are the architects of the digital age, creating innovative solutions that drive progress across industries. To foster this spirit of innovation, the Canadian government offers the Scientific Research & Experimental Development (SR&ED) program, providing significant tax incentives for qualifying projects. At G6 Consulting, we specialize in SR&ED consulting for software developers, ensuring that your groundbreaking work is recognized and rewarded.
Over 20,000 companies across Canada received SR&ED tax credits from the federal government in 2019. The average tax credit received was over $150,000 per company. 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!
R&D tax credits are particularly targeted by the government at small business. Credit rates are higher for small business. Credits are refundable (ie all credits delivered as cheques) for small businesses. (Small business = CCPC, Canadian-controlled private corporation). Learn more about how to qualify
No cost until you get paid. We build your SR&ED claim, co-ordinate with your accountant, submit your claim and get you your cheque. 100% customer service focus. No excuses.
Contact the experts at G6 today for a free, no obligation consultation. At G6 Consulting, we don’t get paid until you get paid.
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The accounting treatment of SR&ED tax credits in Canada is complex
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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.
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.
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.
If your company has eligible projects or activities, we work with you to create a unique SR&ED claim that will yield the most tax claims. We compile all the documentation required to support your claim, including tax returns, technological descriptions, and any information regarding your research and development expenses and investments. The SR&ED claim is then submitted to the CRA for review.
If you want to know whether you qualify for SR&ED tax credits, G6 Consulting can perform a no-charge evaluation. Most companies assume that they do not qualify for these tax credits because they do not employ scientists, engineers, or lab workers. Here are some industries that can be eligible for SR&ED:
The above are just a few examples of industry verticals that can benefit from SR&ED tax refunds. Contact us, and we’ll assess if your company has eligible activities and projects.
If your company has eligible projects or activities, we work with you to create a unique SR&ED claim that will yield the most tax claims. We compile all the documentation required to support your claim, including tax returns, technological descriptions, and any information regarding your research and development expenses and investments. The SR&ED claim is then submitted to the CRA for review.
Our premium Audit Support and Claim Defense service is free to all G6 SR&ED customers. In the unlikely event that the CRA decides to audit your claim, the experts at G6 Consulting will be by your side, defending you. We’ll prepare your staff on what they should expect during the audit and make sure all the necessary records to support your claim are in order. We’ll help you defend your SR&ED claim and ensure that you’re treated fairly. After the audit, we’ll help you prepare any additional information requested by the CRA.
SRED Toronto audits are reviewed by CRA personell across the country. While before Covid-19, audits were done in person by Toronto based auditors, now all reviews are done via zoom.