Episode 61- What is SR&ED? How to access it? And How to use it?
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Episode 61- What is SR&ED? How to access it? And How to use it?
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Our latest episode with Naren Balakrishnan at Doane Grant Thornton LLC talks about the SR&ED (Scientific Research and Experimental Development) program- highlighting key points business owners will find helpful! 📝
There have been some recent updates to the program- did you know that capital expenditures are now eligible again? 🌟
🗝️Key takeaways:
1️⃣If you are working on a problem in which there is no obvious
solution, it's probably SR&ED eligible.
2️⃣It's not just for tech or startups; even very large established
non-tech companies in Canada benefit from SR&ED.
3️⃣Thorough documentation and records are crucial for a successful
claim.
4️⃣Claim substantial SR&ED credits annually with eligible work and
expenditures.
5️⃣Consult an advisor- filing SR&ED with your corporate tax is
ideal.