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RSM's commitment to diversity and inclusion, as well as its dedication to empowering its employees, has allowed me to be my authentic self in a way I've never experienced before.
RSM has provided me the opportunity to truly take hold of my career and run with it.
The Scientific Research and Experimental Discovery (SR&ED) tax credits program has been governed by the Canadian Income Tax Act since its creation in 1986 and it supports the development of new products, technologies and processes in Canada. The program exists at the federal and provincial levels with more than $3 billion in tax credits awarded annually.
The SR&ED tax credit applies to companies of any size and in every industry. Recovery can be as high as 68% for Canadian controlled private corporations, and as high as 43% for publicly traded, large private and foreign-controlled companies. There are a variety of eligible expenses and companies do not need to succeed or be the first to develop a technology to claim the credit.
The federal and provincial governments have been tightening the SR&ED program by reducing credits, increasing compliance and substantially increasing the number of audits. It’s important to work with a tax credit specialist who understands the nuances of the program and can work with you to determine your claim eligibility.
Our SR&ED process provides consultation and support from kick-off to documentation to application review and audit support. We provide robust and transparent engagement planning with industry knowledge to support your specific needs. Our claim approval success rate is driven by the depth of our experience, thorough approach and reputation with tax authorities.
RSM Canada LLP is a limited liability partnership that provides public accounting services and is the Canadian member firm of RSM International, a global network of independent assurance, tax and consulting firms. RSM Canada Consulting LP is a limited partnership that provides consulting services and is an affiliate of RSM US LLP, a member firm of RSM International. The member firms of RSM International collaborate to provide services to global clients but are separate and distinct legal entities that cannot obligate each other. Each member firm is responsible only for its own acts and omissions, and not those of any other party. Visit rsmcanada.com/about for more information regarding RSM Canada and RSM International.
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