chemicals in lab

Canadian Businesses Benefit from the SR&ED Program

What is SR&ED?
SR&ED is Scientific Research and Experimental Development, sometimes referred to as SHRED.

Program Designed to Stimulate Scientific and Technological Growth
The Scientific Research and Experimental Development (SR&ED) program is an indirect tax incentive program that can provide refundable tax credits. This program is aimed at stimulating scientific and technological growth for Canadian businesses of all sizes and in all sectors that perform:

Scientific Research (SR)
Basic / Applied research - Advances scientific knowledge with or without a specific practical application in view.

Experimental Development (ED)
Achieve technological advancement to create new or improve existing materials, devices, products, processes and/or services.

The SR&ED program is the largest single source of federal government support for research and development. Claimants can apply and receive up to 70% for SR&ED refundable investment tax credits (ITC) for expenditures such as wages, materials, contract, capital and potentially overhead.

Learn more about this program and please feel free to contact us if you have questions.