1. We already have internal or external SR&ED provider. Can you help us in any other way?
It never hurts to have a “second pair of eyes” review your unclaimed projects. We have frequently found missing SR&ED benefits or unclaimed benefits in other government programs.
2. I’m interested (but we’re busy) and isn’t this a rigorous and time-consuming process?
There are indeed plenty of “moving parts” in developing an SR&ED claim and as such it requires a degree of concentration to get it right. Our team will manage the claim development using proven technology and processes. We will report to you on our progress at agreed milestones.
3. Won’t it be too difficult for you to understand the technical details of our work?
Our technical team will come prepared with the necessary background to understand your projects. They will use an interview technique and review related documentation to extract details needed to prepare the project descriptions. You will have the opportunity to review the project descriptions prior to filing.
4. We conduct R&D across several tax entities. What if project costs are not in the entity that could benefit from tax credits?
The tax system provides a mechanism for transferring certain SR&ED expenditures among parties not dealing at arms length.
5. Our project was already funded so wouldn’t this be double-dipping?
Depending on the nature of the funding agreement and on location of the funding provider it is often still possible to claim eligible SR&ED expenditures.
6. Our project was performed in a prior tax year. Is it still eligible for a claim?
You file an SR&ED claim for each tax year. The SR&ED filing deadline is twelve months following the filing deadline for your corporate tax return. So you have until June 30, 20×3 to file your SR&ED claim for the December 31, 20×1
tax year end.
7. We have had a bad experience with this program. Can you give any reason why we might reconsider now?
We will review the reasons for your difficulty (and with your permission reaching out to CRA for their perspective as needed). Often we are able to help our clients recover their confidence in the program and continue receiving valuable SR&ED benefits.
8. We are not taxable. Is there any benefit to filing a claim?
If you file an SR&ED claim today, you will be able to carry forward any tax credits earned for 20 years that will assist you in minimizing your future taxes.