The Scientific Research and Experimental Development program (SR&ED) was established to support R&D and innovation within Canada. $3 to $5 billion dollars is dedicated to the program annually by the government. Any Canadian company acquiring new knowledge (which is not available in the public domain) by the systematic investigation is eligible for up to 65% refund for its R&D expenses, including salaries, overhead, subcontractors and consumed materials.
To be eligible the project has to include the following characteristics:
In respect to the Medical Cannabis Industry, Braithwaite currently has several clients to which we successfully claim more than $500K annually combined.
Below are examples of eligible R&D activities:
The projects do not necessarily have to be innovative – it can involve even routine activities, only if these projects involve measurements of any characteristics, learning and/or modification of standard procedures.
Below are several ways Braithwaite increases claims:
Braithwaite can assist you in obtaining tax credits for research and development activities. Whether your work involves basic research, applied research, or experimental development, Braithwaite can take the uncertainty out of the filing process and get you the credit you deserve for your innovation.
For further information on the Medical Cannabis Industry, please contact us today.
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