ARTICLE · 12 JUNE 2024

A Guide On Scientific Research And Experimental Development (SR&ED) Tax Credits

Rosen & Associates

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If your business engages in research and technological advancements, it may qualify for tax credit incentives from the Scientific Research and Experimental Development Program.

CanadaTax

Michelle Kosarnia

If your business engages in research and technological advancements, it may qualify for tax credit incentives from the Scientific Research and Experimental Development Program.

Annually, the Scientific Research and Experimental Development Program disburses over $3 billion in tax incentives to more than 20,000 claimants. This program was implemented to help fuel innovation in Canada through providing significant tax benefits to those who engage in research and development. In fact, it is the largest program administered by the Canada Revenue Agency to support and reward businesses conducting research and development in Canada. This guide will provide you with the essential information that you need to know about the program to determine if you qualify and how to apply.

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