What is the difference between “learning” and “advancement” when writing for line 246 in the T661? Line 246 of Scientific Research and Experimental Development (SR&ED) Investment Tax Credit (ITC) applications asks “What scientific or technological Read more…
What is SR&ED?
The Scientific Research and Experimental Development (SR&ED) tax incentive program is a federal tax incentive program designed to encourage Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada. Each year, the SR&ED program provides over $3 billion in tax incentives to over 20,000 claimants. Of these, about 75% are small businesses.
Many businesses confuse innovation with SR&ED – but the policies that govern SR&ED are very strict. If you believe SR&ED and innovation are the same, you may be in for a surprise!
Don’t make a costly mistake – learn more about the SR&ED program.