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.
Faster claim preparation results in a faster refund to improve cash flow
We have unlimited resources to accommodate your timeline
No need to complete forms, revise multiple times and do all the work
We remember every detail from one year to the next
A combination of human-AI power results in best in class claim preparation
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
We are your strategic partners, dedicated to unlocking the full financial potential of your tax credits
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!
Yes, several non-governmental organizations offer grants to SMBs in Canada, especially in fields such as environmental sustainability, social enterprise, and innovation. These organizations often seek to support projects with specific social, environmental, or economic impacts.
The SR&ED claim process in Canada involves several key steps. First, businesses identify projects and expenditures that qualify under SR&ED criteria, which include systematic investigation and technological advancement. Next, they document their research activities and related expenses. Companies then complete and submit Form T661 along with their tax return, providing technical reports that describe their projects and expenditures. Supporting documentation, such as payroll records, contracts, and project notes, should also be prepared in case of a review by the CRA (Canada Revenue Agency). After submission, the CRA reviews the claim, which can lead to queries for further clarification before final approval and issuance of tax credits or refunds.
These tax credits aim to promote clean technologies, drive economic growth, and contribute to a more sustainable future in Canada
Yes, you can apply for a tax credit for projects that include both eligible and non-eligible components. However, you must clearly separate the expenses and only claim the tax credit on the labor costs directly associated with the eligible aspects of the project.
The SR&ED tax credits can significantly fund your business by offsetting R&D costs through tax relief or refunds. To leverage SR&ED credits, identify projects that involve technological advancement or address scientific or technological uncertainties. Document all qualifying expenditures, including salaries, materials, and third-party payments. Submit a detailed SR&ED claim with your tax return, outlining your R&D activities and expenses. Successful claims can result in either reduced tax liability or cash refunds, providing critical funding to reinvest in further R&D or other areas of your business. Consider consulting with an SR&ED specialist to optimize your claim and ensure compliance.
Eligible labor costs are calculated based on the salaries and wages paid to employees who are directly involved in the development of the eligible digital media project. This includes programmers, designers, and content developers. The calculation excludes costs related to administration, marketing, or distribution.
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.