SR&ED Tax Services in Mississauga
We Will Manage The Intricacies
Mississauga-based SR&ED Tax Credit Services
SR&ED Tax Services in Mississauga
SR&ED tax services Mississauga businesses can rely on. Business Development Services helps businesses identify eligible SR&ED activities, organize supporting documentation, calculate qualifying expenditures, and prepare their SR&ED tax credit claims.
Our goal is to help you maximize your eligible SR&ED tax incentives while maintaining a claim that is accurate, well-documented, and supported by the required information.
What Is SR&ED?
The Scientific Research and Experimental Development (SR&ED) tax incentive program is a Canadian tax incentive designed to encourage businesses to conduct research and development in Canada.
Businesses may be able to claim SR&ED investment tax credits for eligible work and qualifying expenditures related to research and development activities. Eligible activities can include developing or improving products, processes, materials, software, or technologies, as well as work undertaken to overcome technological uncertainties.
Preparing a strong SR&ED claim requires more than simply identifying R&D expenses. Your claim should clearly explain the work performed, the technological challenges encountered, the work undertaken to address those challenges, and the expenditures associated with the eligible activities.
Business Development Services can help your business identify potential SR&ED activities, organize supporting records, calculate eligible expenditures, and prepare the required information for your claim.
For corporations, the SR&ED reporting deadline is generally 18 months after the end of the tax year in which the expenditures were incurred. CRA recommends submitting the SR&ED claim with the income tax return rather than waiting until the reporting deadline.
For more information about the SR&ED program and available tax incentives, visit the Canada Revenue Agency's SR&ED tax incentives page.
Maximize Your SR&ED Tax Credit Claim
One of the most important parts of an SR&ED claim is maintaining documentation that supports the work performed and the expenditures being claimed.
CRA guidance indicates that supporting documentation should help demonstrate what work was done, who was involved, when the work was performed, and how the related expenditures were calculated.
Our team helps you organize the information needed to prepare your SR&ED claim, including:
- Employee time and payroll information
- Contractor and subcontractor costs
- Materials and supplies
- Project documentation
- Technical information
- Project timelines
- Supporting financial records
- Eligible SR&ED expenditures
We work with you to develop a clear and properly supported claim so your business can confidently submit its SR&ED tax incentive claim.
Keep Better Records for Future SR&ED Claims
Good documentation should be maintained throughout the year rather than collected only when it is time to prepare the claim. We can help your team understand what information to track and how to maintain records that support your SR&ED activities and expenditures.
Pay Only When You Receive The SR&ED Credit.
At the core of our success is the success of our clients. This means that we only receive payment when you earn the SR&ED credit. By partnering with us, you can be assured of a guaranteed return-on-investment (ROI).
- Developed or improved software or technology.
- Created a new product, prototype, process, or design.
- Worked to overcome technological challenges or uncertainties.
- Conducted engineering, testing, experimentation, or development work.
- Performed research or development activities involving technological advancement.
Not sure whether your project qualifies? Contact us to discuss your R&D activities and determine whether an SR&ED claim may be appropriate.
SR&ED Tax Credit Services for Mississauga Businesses
SR&ED Tax Credit Services for Mississauga Businesses
Business Development Services provides SR&ED tax credit support to businesses in Mississauga and surrounding areas. We help businesses understand the SR&ED program, identify potentially eligible activities and expenditures, organize supporting documentation, and prepare the information required for their SR&ED claim. Whether your business develops software, creates new products, improves manufacturing processes, performs engineering work, or works to solve technological challenges, we can help you determine whether an SR&ED claim may be available. Contact Business Development Services today to discuss your SR&ED project.