The Scientific Research & Experimental Development Tax Credit (SR&ED) Program is a federal tax incentive program designed to encourage Canadian businesses of all sizes and from all sectors to conduct R&D in Canada. These incentives may be claimed by Canadian-controlled private corporations at the enhanced rate of 35% (up to $3,000,000) on qualified (SR&ED) expenditures. Other corporations, as well as individuals and trusts, can also reap the benefits.
Every year, the Canada Revenue Agency approves billions of dollars worth of Scientific Research & Experimental Development Tax Credit (SR&ED) claims. Stay tuned for the upcoming updates of the program by completing the form at the top.
Founded in 1983, Rho-Can Machine and Tool Company offers specialized machine-shop services and manufacturing solutions, catering to the military, automotive, and aerospace sectors. The company focuses on designing and constructing custom-purpose machines and equipment.
The Scientific Research and Experimental Development (SR&ED) Tax Incentives Program has significantly supported Rho-Can in expanding its business. When discussing the impact of the SR&ED program on their research and development efforts, Rho-Can stated:
“I can honestly tell you that the SR&ED Program has helped Rho-Can immensely. It has given us the courage over the years to tackle projects that we would otherwise have considered as being outside of our comfort zone. Those same projects that we tackled a few years ago, have now become mainstay products for Rho-Can.”
Located in Richmond Hill, Ontario, cStar Technologies Inc. specializes in two-way wireless data communication solutions for various applications, including machine-to-machine, machine-to-mobile, machine-to-human, and mobile-commerce. The company’s research and development (R&D) efforts have enhanced Canada’s global technological competitiveness.
The Scientific Research and Experimental Development (SR&ED) Program’s tax incentives for qualified expenditures have enabled cStar to conduct a series of experiments, leading to the development of wireless communication solutions for their clients. These innovations have resulted in both domestic and international patents and have contributed to the creation of quality jobs in Canada.Government of Canada
Stella Yoon, President and CEO, praised the SR&ED Program for its support:
“Innovation flourishes in a free environment, and this program has afforded us the flexibility we need to grow. The financial support has reduced the cost and risk of innovating and has allowed us to experiment more freely. We also received great customer service. The staff were professional, efficient, and thoughtful, which matches our experience with the program overall.”
