Turning Your Challenges into Cash: SR&ED Made Accessible for All
At Carnegie Capital Group, we specialize in unlocking cash incentives for small and medium-sized businesses. We pride ourselves on delivering substantial financial returns, while ensuring a streamlined hassle-free experience with no upfront costs.
Partner with us to transform your technical challenges into tangible financial gains.
About the Federal SR&ED Cash Back Program
The Scientific Research and Experimental Development (SR&ED) program was created by the government of Canada to encourage Canadian companies to increase their technical knowledge base.
It is one of the world’s best paying tax incentive programs, with over 20,000 Canadian corporations receiving more than $3 Billion annually.
SR&ED cash reimbursements are available to Canadian companies of ANY size in ANY sector.
Who Do We Work With
We pride ourselves on partnering with a diverse array of industries, each with its unique challenges and opportunities. From innovative tech startups to established manufacturing firms, our expertise spans a broad spectrum, ensuring tailored solutions for every client we serve.
IT and Software
In the rapidly evolving fields of Information Technology and Software Development, differentiating ‘non-standard’ development from routine tasks can be challenging. Eligibility for SR&ED claims in this sector often hinges on unique process issues or designing applications/products where standard solutions don’t apply. Software experimentation and integrating disparate technologies for new solutions may also qualify for claims.
Manufacturing
Manufacturing often involves transforming materials into new products, such as plastics, textiles, or electronics. SR&ED eligibility in this sector includes integrating mismatched components, innovative material blending, or creating new materials for unique challenges. Additionally, product reformulation, equipment adjustments for specific objectives, or process improvements like enhancing safety or automation also qualify for SR&ED claims.
Electronics and Hardware
The SR&ED program has been a cornerstone in helping electronic design, development and manufacturing companies in Canada grow and innovate. From designing or developing different electrical components to attaching firmware and software to hardware components, it is not difficult to find project for electronic companies to claim.
Machining and Skilled Trades
Machining, Tool and Die, and Welding companies often overlook SR&ED claim opportunities in their routine activities. Potential claims can arise from process optimizations, such as experimenting with feeds, speeds, cutting tools, and coatings, or developing new manufacturing procedures and welding techniques. Additionally, capital improvement projects involving trial and error post-installation, prototype development, and resolving pre-production issues are eligible.
Green Tech
Environmental initiatives such as recycling, water purification, sewage treatment, environmental remediation, waste management, and renewable energy may be eligible if you encountered technical uncertainties and learned something new during your design development or installation phase of any project.
Agriculture
While agriculture and farming techniques are viewed as traditional, they offer significant opportunities to leverage SR&ED claims based on work that is considered “standard” in the industry. This could include experimentation with crop yields, growing conditions, improving harvesting efficiency, reducing methane production, as well as pest control regimes and introduction of new equipment or methods within the organization, and much more.
Top FAQs about SR&ED
What do I need to qualify?
Any Canadian Company in any sector is eligible to apply. However, there are two main criteria to identify SR&ED eligibility:
- Technological Uncertainty – Did a qualified person work to overcome a technical challenge, whose outcome could not be determined using their existing knowledge. Simply put, did you encounter any technical issues you could not “Google” your way out of?
- Technological Advancement – The work you did advanced your company’s current understanding of underlying technologies or increased your technical knowledge. I.E. did you learn something new while tackling the issue you faced.
I have investigated SR&ED before, but I do not think I qualify.
Many claimants are under the impression that a SR&ED program is a purely research-driven within laboratory settings. The truth is, 95% of SR&ED claims fall under “Experimental Development”. Meaning, if your company has adopted a methodical approach to its development of a product/process or required experimentation to solve a technical uncertainly that arose during your day-to-day activities, you are eligible to apply for SR&ED benefits.
How long do I have to apply?
The CRA allows you as a company to apply for SR&ED up to 18 months from the date of your company’s Fiscal Year. You are also able to submit an application for SR&ED funding each year.
How much funding can I receive?
The amount you can receive varies greatly on your industry, your projects, and the size of your technical expenditures. However, the average claim size for our clients is around $80k.
What will this cost me?
We base our fees solely on you receiving a refund, so all preparation work is free. There are no upfront costs and minimal time commitment is required from clients. We work to ensure that the submission preparation is completed by experts with minimal intrusion to the client.
What does the claim process entail?
Our consultants will meet with you to establish which technical projects qualify for CRA’s SR&ED credits/refunds and will prepare all the necessary documentation for filing. This includes detailed technical report and the preparation of all tax schedules and accounting reports detailing the costs associated with the project, whether ongoing or completed.
Does the size of my company affect my eligibility for SR&ED?
No, this program was created to promote technical activities in Canada. Any expenditures arising from work to help overcome technical uncertainties can be claimed for the SR&ED program.
Why use a SR&ED consultant?
Other than our ability to maximize your claim, we will prepare all the necessary paperwork with no disruption to the day-to-day running of the business.
