Scientific Research & Experimental Development
Many companies perform SR&ED activities as part of their day to day operations without realizing that these activities are eligible for SR&ED tax credits. The SR&ED tax credit is an incentive program by which the Federal and Provincial Governments promote research and development in Canada by offsetting some of the costs associated with the risks.
The SR&ED tax credits in Quebec are among the most generous in the world and, in many cases, can represent more than 80% of research associated expenses. These credits are generally refundable and go straight to your bottom line.
Commonly claimed eligible R&D activities include:
- Development of new products or processes
- Enhancement of existing products
- Software development
- Modification of equipment for new application
- Creation of new manufacturing processes
- Automation of existing processes
Eligibility depends on the projects’ fulfillment of three specific criteria. The R&D department at PSB Boisjoli specializes in demonstrating eligibility and supporting claims in a broad variety of industries. Allow our team to assist you in the following:
- Identifying eligible projects
- Preparing technical reports
- Identifying eligible expenses & maximizing tax credits
- Cost accounting and preparing R&D section of tax returns
- Developing and implementing methods for documenting future work
- Assistance with tax and technical audits and government authorities
The PSB Boisjoli R&D team includes professional engineers and tax professionals who work exclusively in the support of R&D claims. With years of experience in the field they help to manage this complex process.
