The Role of Brain-Implanted Chips in the Future
Will brain-implanted chips be a norm in the future? In this article we explore the development of...
The Scientific Research and Experimental Development (SR&ED) tax credit is a government incentive available to a wide range of companies in the design and manufacturing sector. This tax credit enables qualifying companies to obtain a deduction based on income expenditures and costs associated with research and development activities.
SR&ED credits can reach a rate of 35% for Canadian Controlled Private Corporations (CCPCs) and 15% for other corporations. Provincial SR&ED tax credits are also available and rates and conditions vary by Province.
The credit is primarily used to offset Corporate Taxes, but for CCPCs, it is also reimbursable
To have your innovation project evaluated or further discuss the SR&ED tax credit, reach out to our experts today!
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