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Scientific Research & Experimental Development (SR&ED) Tax Credit Program

The most important and the most generous of all programs to support the costs of research & development (R&D) and innovation in Canada is the Scientific Research & Experimental Development (SR&ED) tax credit program. There are two qualification components to this program. The “Scientific Research” part is a term for basic or applied research where a scientific knowledge is advanced with or without a specific practical application in view. The “Experimental Development” is a term for achieving technological advancement to create new or improve existing products, processes and/or technology.


Your company may be eligible under a vast array of activities, yet you may be even unaware of it. What this program means to you as a company is that if you undertake an activity which advances scientific knowledge and/or experimental development to achieve a technological advancement, then you are qualified for a tax refund. In other words, if your goal is to create new products, technologies and/or processes, or to improve, even incrementally, the existing ones, then you are conducting an eligible activity for a refund.



Your company will be refunded for salaries, subcontractor expenses, payments to universities or to research institutes, materials and overhead expenses. The refund is a combined pay out of Federal tax (ITC) and the provincial tax and these tax incentives come in three forms: an income tax deduction, an investment tax credit (ITC), and, in certain circumstances, a refund — all depending on a qualified company’s fiscal status.


We identify eligible activities/projects that fulfill the requirements of this program. We

have our propriety and proven process to establish a claim, but the general steps is as follow:


  • Qualifying project eligibility
  • Conducting technical interviews
  • Writing technical project descriptions
  • Establishing a non-intrusive documentation system
  • Educating employees and representing a case of an inspection or audit


The SR&ED program pays out more than $4 billion annually to over 23,000 companies.

Credibility


Our management team comes with over 20 years of experience in SR&ED tax credits and other innovation grants. Maxim Strategy Consultant’s diverse team of engineers and CPA's ensure that all claims are of the highest quality. This is evidenced through our greater than 90% track record of claims being assessed as filed, without Canada Revenue Agency reviews.

Strategy


Maxim’s strategic approach focuses on identifying the most lucrative and beneficial mix of grant and tax incentives. This strategic approach enables Maxim to limit the time involved by your organization in developing a plan to identify and process applications and claims, while maximizing the return to your business.

Delivery


With Maxim’s proven processes, we maximize your tax credits through personalized, hands-on consulting, while at the same time, focusing on minimizing the time to establish your claim. We work on a contingency fee structure, meaning we share the risk until the tax credits are received.

Support


A dedicated team of professionals, made up of both engineers and accountants, will be assigned to the claim process for your business. Maxim’s SR&ED technical and financial experts will lead the process of the claim, from project identification to the filing of the tax returns. What separates us from others is that we are proactively involved in your business R&D processes. We work with you throughout the year, not just when it’s time to file your tax return.

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