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Things to Know About SR&ED Claims Canada - Canadian SR&ED

Our team of SR&ED experts can determine your SR&ED eligibility as part of free initial review. The professionals at Canadian SRED Consultants provides a wide range of services include SR&ED Claims Canada to individuals and businesses. Visit online now for more info! <br>https://canadiansred.ca/sred-claims-credits/<br>

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Things to Know About SR&ED Claims Canada - Canadian SR&ED

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  1. Things to Know About SR&ED Claims Canada Canadian SR&ED

  2. Scientific Research and Experimental Development is a mouthful, but shortened to SR&ED or “shred” it may be familiar to business owners. A federal program designed to incentivize industry with tax credits, SR&ED and its benefits are enforced by the Canada Revenue Service (CRA). Most of the time, claims and reviews are a simple process– but the following are five brief tips from the experts here at Liu & Associates.

  3. WHO CAN APPLY? INDIVIDUAls, trusts and foreign-owned corporations are all eligible for SR&ED and its incentives. Canadian-owned private corporations can claim these benefits at an even higher rate thanks to lawmakers’ efforts to encourage local innovation.

  4. PRESCRIBED PROXY AMOUNTS (PPA) Prescribed proxy amounts (PPA) are used in case you are not prepared to claim all SR&ED overhead and expenses (traditional method). Using the proxy method, your PPA is calculated against the salaries of all staff involved with SR&ED.

  5. SUPPORTING DOCUMENTATION SUPPOrting documentation may be needed if your business’ SR&ED claim is flagged for review by the CRA. Always keep any documentation that could support your claim, including but not limited to accounting records, prototypes, financial records and even photographs.

  6. INVESTMENT TAX CREDIT (ITC) Investment tax credit (ITC) is what is generated by a successful SR&ED Claims Canada– it can reduce your business’ taxable income. Select cases may even be eligible for partial refunds paid for by ITC. Our team of SR&ED experts can determine your SR&ED eligibility as part of free initial review.

  7. PHONE NUMBER WEBSITE Contact Us 587-200-4163 https://canadiansred.ca EMAIL ADDRESS info@canadiansred.ca ADDRESS Canadian SR&ED Solutions Suite # 1901 - First Alberta Place 777 - 8 Avenue SW Calgary, AB

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