Misconception: You are not eligible.
Fact: All businesses operating in Canada can apply. The SR&ED program is to incentivize conducting Research & Development in Canada, and has flexible eligibility criteria to accommodate businesses of any industry. 20,000 businesses claim $4B in cash back every year – don’t miss out next year.
Misconception: Only large businesses can apply.
Fact: Out of 22,000 claimants annually, 75% of these qualify as small businesses. You can receive cash back even if you are not profitable as a business, or with no tax owing. By out-sourcing experts like ours at Carnegie Capital Group, filing a successful claim has never been easier for small businesses.
Misconception: International corporations are the most successful claimants.
Fact: CCPCs (Canadian Controlled Private Corporations) receive the greatest incentive, with an enhanced refundable ITC (Investable Tax Credit) of 35% on the first $3M of their expenditures. Non-CCPCs (public companies, foreign-controlled) can only earn a non-refundable 15% ITC.
Misconception: The work has to succeed.
Fact: As an incentive for businesses to conduct research & development in Canada, SR&ED is incentivizing the attempt to resolve technological uncertainty – not the outcome. Failed experiments can be just as eligible as successful ones, as long as they are well-documented and presented.
Misconception: SR&ED is only for scientists in lab coats.
Fact: Any manufacturer tweaking a production process, a software team solving a new technical problem, or an agricultural company experimenting with new growing methods can all qualify and be successful in their claim. At Carnegie Capital Group, we have ensured successful claims for businesses across industries from hospitality to manufacturing to tech and the food and beverages industry.
Get in touch today
Still not sure if you’re eligible? Contact us to see how we can help — info@carnegiecapitalgroup.com
