The Canadian government offers billions of dollars yearly to encourage Research and Development in more than 65 industries.
The Scientific Research and Experimental Development (SR&ED) tax incentive is a beacon of support from the Canada Revenue Agency (CRA) that fuels Research & Development endeavors across Canada. This program annually allocates over $3 billion, promoting systematic investigation and advancements in science and technology across diverse sectors.
● Claim a deduction against income.
● Earn an investment tax credit (ITC) that you can apply against your income tax payable. The Federal Credit rate oscillates between 15% and 35%.
● Benefit from complimentary government funding provided by provinces, augmenting the potential for refundable tax credit benefits.
● SR&ED can be the catalyst for your next big breakthrough!
● Be a for-profit company based in Canada.
● Participate in basic research, aiming for technological advancement.
● Participate in applied research.
● Engage in experimental development.
Paid to technical employees directly performing SR&ED activities.
Located within Canada for SR&ED projects.
Consumed during testing, contributing to SR&ED expenditures.
Our Steps For A Better SR&ED Claim
Begin your SR&ED journey with us.
Meet with the consultant for gathering information on-site or virtually.
Assess eligibility & expenses for each project. Continuous communication with a consultant as part of the preparation.
Write technical reports and analyze financial data. Then your claim is sent to your accountant for submission to the Government authorities.
In case of an audit, our team prepares and advises you (tax and/or scientific audit).
Track claims submitted until final payment of tax credits by requesting authorization to your company.
At Leyton, we’ve created a unique method to help you navigate the complexities of SR&ED. We offer expert advice to a wide range of businesses, from large corporations to small startups. In addition to ensuring your claims follow the rules, we also provide support during reviews of SR&ED tax incentives.
With over 25 years of experience, our SR&ED team is more than just consultants:
A consultant’s deep industry knowledge ensures accurate identification of eligible R&D activities for precise claim submissions.
Consultants streamline the complex documentation process, freeing you to focus on core business activities.
Strategic structuring of the claim by a seasoned consultant highlights innovation and maximizes potential tax credits through compelling storytelling.
Consultants not only secure credits but also provide insights that shape future strategies and innovation for long-term success.
Years of experience+ 25
SR&ED In The News
All you need to know about SR&ED Tax Credit
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To be eligible for SR&ED tax incentives in Canada, your work must be performed within the country and satisfy these two criteria:
The work should aim to advance scientific knowledge or achieve a technological advancement.
The work must involve a systematic investigation or exploration in a scientific or technological field, conducted through experimentation or analysis.
Your SR&ED claim will undergo processing within 60 calendar days from the moment we receive both your completed claim and your income tax return for the respective year.
For refundable claims chosen for review, the process is generally completed within 180 calendar days from the date we receive your complete claim.
Filing for the R&D Tax Credit does not inherently raise the likelihood of an audit. However, whenever you make changes or amendments to your tax returns, there is a marginal increase in the audit probability. What truly matters is having a proficient team with audit defense expertise to support and safeguard your interests.
This report outlines Research & Development (R&D) activities and their associated expenses. The core of the R&D Tax Credit lies in linking financial costs to technical research activities. This connection is the foundation for claiming the credit on tax returns. Without this link, the credit is invalid, and this is where Leyton’s technical report plays a vital role.
Start Optimizing Your SR&ED Claims With Our Experts!