Scientific Research and Experimental Development (SR&ED)
Quality SR&ED Services for Businesses in Toronto and Across Ontario
For many businesses, especially those in their early stages, utilizing available tax credits and incentives are an essential means for offsetting the costs of running a business and improving cash flow. At DNTW Toronto LLP, our professional and dedicated team takes pride in providing high-quality SR&ED strategies to a diverse clientele from a wide range of industries. For decades, we have been a dedicated and invaluable business partner to clients in Toronto and across Ontario, adding value to their businesses through modern and tailored business advisory and tax solutions.
One of the most often used tax incentives available to Canadian businesses is The Scientific Research & Experimental Development (SR&ED) credit. SR&ED Program is a federal tax incentive program administered by the Canada Revenue Agency (CRA), that encourages Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada. It is the largest single source of federal government support for industrial R&D, with billions of dollars in rebates available every year to thousands of organizations.
Unfortunately, all too often, business owners and decision-makers are unaware of the opportunities available to them. DNTW Toronto LLP can help you to administer your SR&ED claims. Our team has the knowledge to help you manage your claims while maximizing the benefits available to your business. We provide insight into areas where effective tax planning opportunities in SR&ED exist.
Expert SR&ED Solutions for Your Business
Available at both the provincial and federal levels, SR&ED credits allow businesses to recover a considerable portion of their expenses annually. The incentives can add up to substantial savings, which for many startups and new businesses is enough to help them stay afloat in the early years.
At DNTW Toronto LLP, we do more than just crunch numbers. Our responsive and approachable team of experts delivers modern and innovative tax and business solutions tailored to our clients’ individual needs. We assist startups and small businesses to capitalize on approved benefits under the SR&ED program. Our commitment to being responsive and attentive business partners ensures our clients benefit from our years of experience combined with careful attention to their business goals. We are proud to cultivate long-standing relationships with our clients by providing progressive and innovative tax strategies individually tailored to meet our clients’ specific needs. With a sincere understanding of our clients’ goals, we integrate the SR&ED component into a client’s overall tax solution, thus maximizing their tax benefits while improving profitability.
With over one hundred years of combined experience, the trusted professionals at DNTW Toronto LLP provide SR&ED expertise to a wide range of industries, including:
- Agriculture
- Manufacturing
- Mining
- Construction
Who Can Claim the SR&ED Investment Tax Credit?
While the SR&ED Investment Tax Credit is available to businesses of all sizes and in all sectors conducting research and development (R&D) in Canada, how much a business can claim depends on the type of business structure and the qualified SR&ED expenditures the business has. Some small business owners may be unaware that they could qualify for a rebate of a generous portion of their annual costs, often receiving 45 to 65 cents on the dollar for approved expenditures.
For an organization to qualify for the SR&ED tax credit, the work must meet two criteria:
- The work is conducted in order to expand scientific knowledge or to advance technology.
- By method of experiment or analysis, a systematic investigation or search is conducted in a field of science or technology.
Eligible Work Includes:
- Engineering
- Design
- Operations research
- Mathematical analysis
- Computer programming
- Data collection
- Testing
- Psychological research
Ineligible Work Includes:
- Market research or sales promotion
- Quality control or routine testing
- Research in the social sciences or the humanities
- Prospecting, exploring or drilling
- The commercial production of new or improved materials, devices, or products
- Style changes
- Routine data collection
Contact DNTW Toronto LLP for Expert SR&ED Services
The Chartered Professional Accountants at DNTW Toronto LLP bring a wealth of experience and expertise to tax and SR&ED strategies. Our approachable and responsive team is committed to delivering high-quality solutions to add value to our clients’ accounts and achieve their unique business goals. A full-service, mid-sized accounting firm, we have been providing a wide range of innovative tax solutions to clients in Toronto and across Ontario for more than two decades. For more information about how DNTW Toronto LLP can help you and your business, reach out to us online or by telephone at 416.924.4900.
