Canada’s largest tax incentives program for research innovation development known as Scientific Research and Experimental Development (SR&ED) can lead to either cash refunds or reductions in your taxes payable depending on your corporate setup.  As a tax payer you can receive both Federal and Provincial Income Tax Credits (ITC’S).  On average SR&ED provides more than $3 billion in tax credits annually to Canadian business. 

It is a retroactive program in which costs can be recovered after they have been incurred.  Costs that qualify under SR&ED include labour, materials, subcontractors and overhead.   If you would like more information on SR&ED and if it is applicable to your business feel free to get in touch.