SR&ED Tax Credits are one of Canada’s most valuable tax incentive programs, designed to encourage businesses to invest in innovation and research. The Scientific Research and Experimental Development (SR&ED) program provides significant financial support in the form of tax credits for eligible research and development activities. Whether your business is developing new technologies, improving existing products, or experimenting with novel processes, SR&ED tax credits can offset the costs of your R&D efforts, helping you reinvest in your business and continue growing.
At Banhall, we specialize in helping businesses navigate the complexities of the SR&ED program to ensure they maximize their tax credit claims. Our expert team provides comprehensive SR&ED consulting services, guiding you through the entire process from eligibility assessment to claim submission. We work closely with businesses across various sectors, including technology, engineering, manufacturing, and software development, to identify eligible R&D activities and maximize your claim.
What Are SR&ED Tax Credits?
SR&ED tax credits are available to Canadian businesses engaged in experimental development, applied research, or basic research in the fields of science and technology. The program is administered by the Canada Revenue Agency (CRA), and eligible companies can receive up to 35% of their eligible R&D expenses as a tax refund, depending on factors such as the size of the business and the province in which it operates. These expenses can include salaries, materials, overhead, and contract research costs related to R&D activities.
The SR&ED program is designed to support businesses of all sizes, from small startups to large corporations. It covers a wide range of R&D activities, including the development of new products or processes, technological advancements, and experimental methods that advance knowledge in specific scientific fields.
How Banhall Can Help
Navigating the SR&ED tax credit process can be complex, and many businesses miss out on eligible claims due to improper documentation or lack of understanding of the program’s requirements. At Banhall, we simplify this process for you. Our experienced consultants will assess your R&D activities, determine eligibility, prepare the necessary documentation, and help you submit a successful claim to the CRA.
We also provide ongoing support, ensuring that your business remains compliant and that future SR&ED claims are optimized for maximum benefit. Our team’s knowledge of the latest SR&ED regulations and tax policies ensures that your business receives the highest possible return.
Don’t leave money on the table—let Banhall help you unlock the full potential of SR&ED tax credits. Visit Banhall SR&ED to learn more about how we can support your business in securing this valuable funding.