Scientific Research Experimental Development Claims
Our tax professionals can help you maximize your company’s tax credit potential and guide you through the complex SR&ED eligibility process.
Tax incentives for research and innovation
To support and encourage innovation and entrepreneurship, the Canada Revenue Agency (CRA) administers the Scientific Research and Experimental Development (SR&ED) Program—the largest single source of federal government funding for business-led research and development (R&D). Through this program, the government provides more than $3 billion in incentives each year in the form of tax credits and tax refunds to Canadian businesses that undertake qualifying research and development activities.
An ever-evolving program
Your business’ current R&D expenses may be eligible for up to a 70-percent refund from the SR&ED program, but careful attention must be paid to the parameters and requirements for SR&ED claims. Navigating SR&ED with the constantly changing legislation, technical amendments, and evolving administrative policies can be tricky.
KRP’s tax and technical experts are on top of this ever-evolving program, and can help guide our clients through this process.
We can help you:
- Determine eligible projects
- Prepare all relevant forms and tax schedules
- Maximize your claim
- Ensure compliance with Canada Revenue Agency (CRA) guidelines
- Support you through CRA SR&ED financial and technical reviews
Insights and News
New Developments for Foreign Bank Account Reporting
Developments in the U.S. may result in all future FBAR related penalties to increase exponentially.
Notice 2022-36: Penalty relief for certain taxpayers filing returns for tax years 2019 and 2020
Mergers & Acquisitions
Our team can help you develop tailored solutions for your company’s financial challenges.
Agriculture / Farm Tax
When you’re facing changes that affect your livelihood, our farm tax specialist can help.
International Corporate Tax
If your business operates outside of Canada, you need experienced advisors to keep you on top of your tax obligations.
Retirement & Estate Planning
Our team specializes in estate planning and can review your unique circumstances to provide tailored solutions for your family.
Don’t be caught off guard. Let our experts help you plan ahead and understand how commodity taxes affect your transactions.
Assurance & Accounting
You can count on us to deliver the accurate and timely financial information you need to succeed.
Reviews & Compilations
When a full audit is not required, KRP can conduct a review or compilation to ensure your financial statements are put together in a professional manner.
Take back your time and take your business to new levels with KRP’s cloud accounting services.
Accounting & Financial Reporting
KRP’s specialists can guide you and your company through your accounting and financial reporting.
Consulting & Special Projects
When you’re up against a challenge, you can count on us for creative, cutting-edge thinking and innovative solutions.
People & Change
When you need assistance related to people and change, our experienced professionals can tailor solutions to help your organization thrive.
Risk Management & Internal Audit
We provide the independent and objective outlook you need to make sound decisions for your organization.
Business & Financial Advisory
Reach your goals sooner with the strategic advice of our knowledgeable consultants.
Before you undertake a major development project, let our experts help you evaluate and plan the best way forward.
Financial Litigation Support and Loss Quantification
KRP’s experienced Financial Litigation Support and Loss Quantification team offer a full range of expert services to the legal and business community.
Our financial experts can help you navigate challenges toward the best possible result.