10 SR&ED basics
1 Your application for SR&ED funding is part of your corporate tax return.
2 Get your money faster! Filing your SR&ED claim in conjunction with your corporate tax return (within 6 months of your fiscal year-end) cuts claim processing time by 50%.
3 Canada’s SR&ED program is administered by the Canada Revenue Agency (CRA).
4 The biggest reason for claim denial is insufficient or inappropriate evidence – not ineligibility.
5 It’s true, you can receive a cheque in the mail from the government!
6 Alternatively, you may receive “non-refundable" SRED tax credits. These can be applied against corporate tax owed.
8 Some cases are selected for review. If yours is, a CRA scientific auditor will analyze your case in compliance with the current CRA policy documents. You will be asked to provide detailed explanations and additional evidence. We can help.
9 At Engineva, we believe that CRA randomly reviews some claims that have passed the initial, basic scan (all boxes have been checked; content makes sense). Then, others are selected for an in-depth review as a result of red flags in the basic scan.