GrowWise Continues Partnership with Communitech: Support in Simplifying SR&ED Funding
GrowWise is proud to continue the partnership with Communitech to support the ecosystem in simplifying SR&ED tax credits.
Better and faster technical interviews
More convenient scheduling and faster claim preparation
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, SR&ED tax credits can be both carried back and carried forward. If your business has unused investment tax credits (ITCs) from SR&ED expenditures, you can carry them back three years or forward twenty years to offset tax payable in those years. This flexibility allows businesses to strategically manage their tax liabilities. For example, carrying back credits can result in a refund of taxes previously paid, while carrying forward allows future offsetting against income, useful for businesses in development stages expecting higher profits in future years. Be sure to consult with a tax professional to maximize the benefits of SR&ED claims for your specific situation.
A grant is typically a non-repayable fund provided by governments or organizations to support business activities, requiring no repayment. In contrast, a loan must be repaid with interest. Grants often have specific conditions for how the money can be used.
Yes, you can claim SR&ED if you are using subcontractors, but there are specific rules. For work performed in Canada, you can include payments to subcontractors in your SR&ED expenditures. However, the amount you can claim may be reduced depending on the relationship between your business and the subcontractor and whether the subcontractor is a Canadian resident. It’s important to ensure that the work performed by subcontractors directly relates to your SR&ED project and adheres to all applicable CRA guidelines. Proper documentation and clear delineation of the work related to SR&ED activities are crucial to support your claim. Always consult with a SR&ED specialist to ensure compliance and maximize your claim.
Most Canadian provinces offer some form of Digital Media Tax Credits, but the specifics of the program, including eligibility and benefits, can vary significantly. Some provinces might not have a dedicated digital media tax credit but could offer other forms of incentives for digital development.
The CRA assesses SR&ED claims based on documentation provided and criteria met. They review the technological advancements aimed for, the scientific or technological uncertainties involved, and the systematic investigation processes undertaken. Claims may be reviewed through a desk audit or a more detailed field review.
Yes, failed projects are often some of the most SR&ED-eligible cliams. The SR&ED program recognizes that failures can occur in the course of experimental development and that these failures contribute to the overall advancement of knowledge. To qualify for SR&ED tax credits, the work must meet certain criteria, including pursuing a technological advancement to overcome scientific or technological uncertainties. Even if the project did not achieve its intended results, the effort to resolve these uncertainties can still be eligible for SR&ED tax credits, provided that the work is systematically carried out and properly documented.
GrowWise is proud to continue the partnership with Communitech to support the ecosystem in simplifying SR&ED tax credits.
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