For many companies, SR&ED refunds are a key part of their survival. Who else would pay you for trying to develop something even when you fail? Many projects only become economical with SRED assistance. This helps make Canadian business competitive. If you do R&D, you need to consider applying for this assistance. 68% of your labour costs is enticing, isn’t it?

 

Planning for SRED refunds entails implementation of accounting procedures that can help clarify the allocation of resources and make for better decision making and higher profitability.

 

 

There are a few hoops that you need to hop through to have a valid SRED claim for Technical Development:

 

1. The project must have technological uncertainties

2. You must be seeking to develop technological advancements which are well defined

3. The work undertaken to resolve the technological uncertainties must be systematic and experimental

4. The work must be done by people qualified by reason their experience or training to do that kind of work

5. The knowledge developed must not be available in the public domain

6. The methodologies employed must be more than “standard process”.