SR&ED Time Tracking: A Practical Guide for 2025
Learn how to track SR&ED time effectively to maximize your refund, avoid CRA issues, and streamline compliance with practical tools, tips, and examples.
Better and faster technical interviews
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Larger claims with less effort for your team
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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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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
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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!
Clean technology tax credits in Canada are financial incentives designed to support businesses that invest in the development and implementation of environmentally friendly technologies. These tax credits aim to encourage companies to engage in activities that have a lower impact on the environment, such as renewable energy projects, waste management, and pollution reduction technologies. Businesses can benefit from these credits by reducing the amount of tax they owe to the government, making it more financially viable to invest in green technologies. These incentives not only help companies save money but also promote sustainable development and contribute to Canada’s environmental goals, such as reducing greenhouse gas emissions and fostering innovation in the clean tech sector.
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.
To apply for clean technology tax credits, companies need to provide detailed project proposals, financial statements, proof of expenditures related to clean technology, and sometimes results of environmental impact assessments. Documentation proving the technology’s compliance with government-defined clean technology criteria is also necessary.
Common mistakes include incomplete applications, failing to follow application instructions, providing inaccurate information, and missing deadlines. Ensure thoroughness, accuracy, and timeliness in your application to improve your chances of success.
Canada offers a variety of grants for small and medium businesses (SMBs), including funding for innovation, technology development, export expansion, employee training, and environmental sustainability. Sector-specific grants are also available, targeting industries such as agriculture, manufacturing, and digital media.
The Canadian government defines ‘clean technology’ as any process, product, or service that reduces environmental impacts through activities such as energy efficiency improvements, sustainable use of resources, or pollution reduction. Specifically, for tax credit eligibility, technologies must demonstrate a potential for significantly reduced environmental footprint compared to existing alternatives.
Learn how to track SR&ED time effectively to maximize your refund, avoid CRA issues, and streamline compliance with practical tools, tips, and examples.
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