Blockchain: Claim back costs on your innovative projects

The pace of innovation in the blockchain industry is constantly increasing. Companies have to introduce new or improved products to keep consumers engaged in a hyper-competitive industry with rapidly changing trends.

The significant financial investment required in order to launch a new blockchain product can make the journey to viable launch and scale-up challenging. In order to encourage additional investment into Research & Development in blockchain activities, the Canadian government provides considerable tax relief for businesses who are innovating in this sector.

Blockchain companies are well-positioned to be eligible for SR&ED Tax Credit as innovation is constantly being performed during the development process. This tax relief can help offset costs in areas such as staff salaries, materials, or contractor costs.