What is SRED? What Qualifies?

SRED is a government incentive program to encourage companies in Canada to develop new products or processes or to conduct Applied Research.

You don’t need a high-tech lab or news-making breakthrough to qualify for SRED incentives. Baking cookies can qualify.

It depends on your industry
What qualifies for SRED differs in each industry. As a result, Revenue Services Group’s industry specialists maintain a database of activities that qualify for SRED incentives in each industry.

And how you represent your activities
Knowing which activities in your industry qualify and how to represent them to the CRA to quickly receive SRED cash refunds or tax credits is one of Revenue Services Group’s special strengths.

With as little time as possible invested in the SRED claim preparation process by your staff, our consultants work hard to ensure that you receive a significant SRED cash refund or tax credit.

SRED Research and Development in Your Industry
Following are examples of SRED research and development projects that qualified for refunds, along with amounts received:

Agriculture 

  • A series of tests to assist with the growth of plants. $103,000

Food Processing 

  • A new line of curry sauce products. $72,000

New Media, Software, IT and Telecom 

  • To explore ways to create a generic infrastructure, used to facilitate the automation of resource-intensive manual processes. $476,000
  • To forecast the resources and labor required to manage production. $55,000

Manufacturing, Engineering, Fabrication and Machining 

  • To identify the cause and solution for plastic container lid leakage. $334,000
  • A steel component-based truck guard. $65,000
  • Exploring how to machine a 3-D surface on the ends of truss brackets and then weld them together. $176,000

Medical and Biotech 

  • Designing soft acrylic night guards. $12,000

Clean and Green 

  • A new process for capturing water out of the air in desert climes. $63, 000

What SRED tax credit or refund do you qualify for?

Access an on-line evaluation of your company
Access an on-line evaluation that outlines what activities qualify in your industry and discover how much you’ll receive.

Arrange a complimentary consultation
Invest 30 minutes with a SRED tax incentive specialist to find out exactly what you qualify for. Simply schedule a consultation or contact us to arrange a complimentary consultation.

You don’t need a high-tech lab or news-making breakthrough to qualify for SRED incentives. Baking cookies can qualify.

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