With the lingering effects of COVID-19, many healthcare companies across Canada have worked tirelessly to find remedies or invent products to protect Canadians. With over 3400 health care companies across Canada, their mission is to invest in our future. The Canadian Government continues to reward these efforts with the SR&ED Tax Credit Program.
The SR&ED Program offers up to almost 50% tax credits or a cash refund for qualified expenditures (rates may vary based on the company being CCPC or Non-CCPC). With an expiration date of 18 months from a company’s year-end, the tax credit aims to reward companies for their work carried out in the field of science or technology that is either basic research, applied research, and/or experimental development where there is uncertainty.
Within the healthcare industry, the focus on product development, the science of a formulation, and IT/software components can be eligible. Below are a few examples:
How Can Braithwaite Canada Assist
Braithwaite Canada takes a 7-step approach to maximize every R&D Tax Credit Claim filed to CRA (Detailed description of the 7-step approach).
For further information on how Braithwaite Canada can assist your company in successfully preparing an SR&ED Tax Credit claim to CRA, please contact us today.
Source: Crunchbase & Government of Canada
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.