SR&ED and Business Tax Incentives
Get Refund Cheques from the CRA on your R&D Expenditures. Unlock your R&D Refund from your innovation.
Call or message us today to find out if you're eligible:
Our SR&ED and Business Tax Incentives team is technology-focused and consists of engineers and accountants. Our objective is to assist your Canadian business in applying for tax refunds with the CRA (Canada Revenue Agency).
Working alongside your technical team, we structure our process through:
Identifying and scoping which projects and expenditures would qualify under the SR&ED program
Interview your technical team for detailed information about your projects
Create and write technical descriptions of the eligible projects and R&D activities and prepare the T661 forms
Review the claim forms with technical leads and management to ensure it is complete and accurate
Offer guidance on time tracking tools to streamline the ongoing identification of SR&ED efforts
Our team of SR&ED experts can help you with the entire filing process, from preparing the claim, to CRA audit and review defense assistance. We prepare both the technical description required for the SR&ED claim, as well as the financial model required for submission to the CRA. Our work is generally provided on a contingency basis, or a fixed fee review model in some cases. Audit support, should it be required, is included within the full service contingency model.
Your business may also be on the edge of untapped government funding available to various companies in differing sectors. We assist in researching what grants and subsidies are available to help accelerate your business. We can help you access grants and government incentives such as:
Film and Video Development
About the SR&ED Program
If you are spending funds on researching and developing new products, processes or technologies, you may be eligible for a refund from the Government of Canada based on eligible expenditures. Each year, the CRA provides over $3.5 billion in federal and provincial funding through the SR&ED program.
Companies who are spending efforts on projects that contain elements of technological uncertainty, technological advancement and content can benefit from applying to this program.
Though Canadian-controlled private corporations (CCPC's) will benefit the most at the highest rate, non-CCPC's and partnerships may also apply.
For more information, download our free informational PDF:
Why Choose LFG Partners for SR&ED?
What Makes Us Different?
There are many benefits to working with us for SR&ED. We are not just a SR&ED "automated" consultancy; we are also a licensed CPA, tax, and accounting and assurance firm, and there are many efficiencies and opportunities to maximize refunds by having your SR&ED provider, and accountant & tax provider in the same office. There is less friction, and much better planning opportunities.
We integrate the tax and accounting strategy together with the view to maximize your SR&ED refund.
When is the SR&ED deadline?
The SR&ED reporting deadline for corporations is generally 18-months after the tax year end. For example, if you have a December 31, 2022 year end, you have until June 30, 2024 to claim any R&D related expenditures, otherwise those expenditures will not be available to you as a refund after that date. Contact us before the deadline in order to tap into your 2022 refund! If you're unsure about whether your expenditures will qualify, we are here to help.