Qualified for SR&ED? Proper Accounting Maximizes Your Claim.
Qualifying for SR&ED is not enough. Learn how proper bookkeeping and accounting records protect your claim and help maximize eligible SR&ED tax credits in Canada.
Better and faster technical interviews
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Less expensive than EY, Deloitte, KPMG, PWC, MNP, RSM, GT or BDO
Larger claims with less effort for your team
Supervised-AI platform combines the power of AI with our teams experience filling thousands of successful SR&ED claims to reduce the risk of audit.
If you had a poor result with other consultant, we have the successful track record and expertise to defend your claim.
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Submit as many projects as needed to maximize SRE&D refunds
Efficient collection of supporting documentation to defend the work
Deep understanding of CRA policies and tax credit rules
We specialize not only in SR&ED Tax Credits, but also Cleantech, Digital Media, and others
Our advisors ensure you aren't leaving any money on the table
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Our proprietary system ensures you receive the best service with the largest most accurate SR&ED claim.
Our team has the most experience filing interactive digital media tax credit claims. Combined with SR&ED you will maximize your government incentives.
Want to work with the experts to get your share of $80B in cleantech tax credits. We have the tools to simplify and maximize your cleantech tax credits.
We advise and support companies applying for many grants. Our tools help you pair the best grants for your business to maximize government assistance. We've build and sold businesses, financed hundreds of companies and provided consulting services for thousands. Just ask!
Business grants in Canada can be highly competitive, especially those offering significant financial support or targeting rapidly growing industries. Success often depends on the quality of the application and alignment with the grant’s objectives.
To prepare an SR&ED technical report, start by clearly defining the scientific or technological advancements aimed for and the uncertainties involved. Detail the experimental or analytical work conducted to overcome these uncertainties. Include a systematic investigation process, documenting each hypothesis, experiment, and result. Outline the project’s timelines and resources used, providing evidence of the progression. Highlight any technological advancements achieved or knowledge gained. Ensure all technical terminology is explained and avoid general marketing language. Include contributions from all team members and cross-reference financial documents to substantiate claims. Review the report for compliance with the CRA’s requirements to maximize the likelihood of acceptance.
Yes, in many cases, clean technology tax credits that cannot be fully utilized in the current tax year can be carried forward to future tax years. Some programs also allow credits to be carried back to previous tax years, but this is less common and depends on the specific rules of the tax credit program.
If a project is denied clean technology tax credits, the applicant typically receives a detailed explanation of the reasons for denial. Applicants have the opportunity to appeal the decision or reapply after addressing the deficiencies highlighted in the denial.
Receiving other grants can affect your SR&ED claims, as it may reduce the amount of SR&ED expenditures eligible for investment tax credits. This occurs because the SR&ED program requires expenditures to be reduced by any government assistance, non-government assistance, or contract payments received. Essentially, if your project receives funding from another grant, the cost base for which you can claim SR&ED tax credits decreases by the amount of that grant. It’s important to carefully consider how other grants might intersect with your SR&ED claim, and to report all such assistance accurately to ensure compliance and maximize your potential benefits.
Yes, there is a deadline for applying for clean technology tax credits. Applications must typically be submitted by the end of the fiscal year following the year in which the eligible expenses were incurred. Specific deadlines can vary by province and the nature of the tax credit program.
Qualifying for SR&ED is not enough. Learn how proper bookkeeping and accounting records protect your claim and help maximize eligible SR&ED tax credits in Canada.
GrowWise is proud to continue the partnership with Communitech to support the ecosystem in simplifying SR&ED tax credits.
Is SR&ED worth it for your startup? Learn when Canadian startups benefit most from SR&ED and when the time and effort may outweigh the refund.