The SR&ED Program is administered by the Canadian Revenue Agency to promote and stimulate Canadian SR&ED and to encourage the continuous improvement of technology in Canada with the intent that Canadian companies can be more competitive in the World marketplace.
Qualifying Canadian Controlled Private Corporations and other qualifying Canadian Corporations are eligible for cash refunds on tax credits or non-refundable tax credits, which can be carried back 3 years or forward 10 years.
OEM specializes in assisting manufacturing companies with the preparation of SR&ED claims.
Criteria
- Development of new products and / or processes
- Improving new products and / or processes
- Technological advancement (departure from standard company practice)
- Technological Uncertainty (can it be done at all?)
- Technical Content (qualified staff & retained documentation)
- Eligible Work (engineering, design, operations research, testing)
Eligible Expenditures
- Wages, materials, overhead, sub contractors, equipment (specific requirements
OEM Support Process
- Initial discovery meeting
- Technical review & write-up
- Cost gathering i.e. labour, material, equipment
- Assimilate pertinent data into T661
- Assist in developing an ongoing documentation process
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