Importantly, the SR&ED Program is NOT a competitive process.
Funds and tax credits are available if your company has conducted research and development activities over the past 18 months that meet the 3 KEY CRITERIA of the Program.
The SR&ED Program is entrenched in a narrow slice of the Canadian Income Tax Act and provides an annual cumulative benefit of several billion of dollars to thousands of companies.
The Canadian Federal Government, in cooperation with Provincial Governments provide benefits back to companies ranging from 15%-40%-60% of the qualified expenses claimed.
For Publicly Traded companies benefits are capped at 15% and are returned to the company in the form of Tax Credits.
Privately held companies generally will receive benefits up to 40%-60% of qualified expenses. These funds are generally returned to the company as cash.