Uncovering SR&ED for Manufacturers

The manufacturing sector in Canada has long been renowned for its competitive nature. Unsympathetic economic conditions, erratic currency fluctuations and harsh international trade have dampened profit margins in this beleaguered industry. To gain an edge, industry leaders constantly search for new ways to improve ‘time-to-market’, cut costs and provide better offerings and more innovative products to their customers.

In order to remain competitive, manufacturers must make continuous improvements to improve quality compliance, processes, and products that can result in considerable investments. Rather than accept this as a “cost of doing business”, it can be greatly beneficial to take advantage of available R&D government funding such as SR&ED.

A significant portion of these activities qualify for tax credits which can come in the form of cash refunds under the Scientific Research & Experimental Development (SR&ED or SRED) program. Manufacturers face several misconceptions about SR&ED eligible expenditures, and many organizations have been discouraged from participating or simply fail to claim a significant portion of qualified work.

The SR&ED Plus team of SR&ED experts includes consultants from various industry backgrounds, with the expertise to look at projects from an insider’s view. This allows us to fully maximize a company’s SR&ED tax credits for greater benefits.

Uncovering SR&ED for the Tech Sector

Successful tech organizations are relentless in their quest to deliver cutting-edge products and services, constantly looking for ways to outdo the competition.

To stay competitive, these companies must put down significant funds to achieve their goals and systematically overcome technological limitations. Companies are forced to draw on experimentation and scientific analysis to improve the performance, reliability, security and general functionality of products.

In addition, basic decisions and development iterations related to overall product architecture, third-party integration, performance metrics, throughputs, data structures and algorithms, development platform bugs and/or limitations are commonly seen as by-products of methodical R&D.

A considerable portion of the costs associated with these activities qualify for tax credits which can come in the form of cash refunds under the Scientific Research & Experimental Development (SR&ED or SRED) program. Many organizations have been discouraged from participating or simply fail to claim qualified work.

The SR&ED Plus team of SR&ED experts includes consultants from various industry backgrounds, with the expertise to look at projects from an insider’s view. This allows us to fully maximize a company’s SR&ED tax credits for greater benefits.

Uncovering SR&ED for Food & Beverage Manufacturers

Canadian companies in the food and beverage industry face regular product reformulations, process adjustments and equipment changes. Enhancements are also driven by the need for increased efficiency, prolonged product shelf-life or improved productivity. To complicate matters further, compliance with Health Canada, the FDA, or HACCP regulations can be costly and filled with technical uncertainty.

A significant portion of the costs associated with these activities qualify for tax credits or cash refunds under the Scientific Research & Experimental Development (SR&ED) program. However, food & beverage manufacturers face several misconceptions about SR&ED eligible expenditures. Many organizations have been discouraged from participating or simply fail to claim a significant portion of qualified work. At SR&ED Plus, we help eligible food and beverage companies uncover, claim and maximize their SR&ED tax credits.

Uncovering SR&ED for the Chemicals and Oil & Gas Industries

It is a common belief that the SR&ED program is only intended to assist large, industry-leading businesses with dedicated R&D facilities. This misconception has led many smaller-scale Chemical and Oil & Gas companies to assume that they are ineligible for the program. In reality, regardless of their size, most organizations carry out a great deal of seemingly routine activities that are actually SR&ED eligible.

Innovative products and new processes are almost always born from scientific research and experimental development. Most frequently, developments are less radical and make only incremental improvements to existing products and services. These advancements are often neglected as SR&ED eligible and subsequently go unclaimed. Chemical and Oil & Gas organizations that are not able to identify these types of qualified activities are missing out on a large portion of deserved tax credits. At SR&ED Plus, we help eligible companies uncover, claim and maximize their SR&ED tax credits.

Uncovering SR&ED for Life Sciences & Biotechnology

Innovative products, new medical achievements and industry breakthroughs are almost always born from scientific research and experimental development. Most frequently, developments are less radical and add only incremental advancements to existing products and processes.

It is often the case that these improvements are disregarded as SR&ED eligible and subsequently go unclaimed. Life sciences organizations that are not able to identify these types of qualified activities are missing out on a large portion of their tax credit entitlements. At SR&ED Plus, we help eligible life sciences and biotechnology companies uncover, claim and maximize their SR&ED tax credits.

Uncovering SR&ED for Other Eligible Fields

Does our Business Qualify for SR&ED?

In addition to the key industries covered throughout our website, there are several other areas where SR&ED-eligible work exists. The following chart lists all fields of science, technology and engineering that are most typically accepted for the purpose of SR&ED by the Canada Revenue Agency.

The SR&ED Plus team of SR&ED experts includes consultants from various industry backgrounds, with the expertise to look at projects from an insider’s view. This allows us to fully maximize a company’s SR&ED tax credits for greater benefits.

Not sure if your business qualifies for SR&ED? Contact a SR&ED Plus Consultant today and find out if your activities are eligible for SR&ED benefits.