SR&ED process
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SRED Process


What is the SR&ED Process?

The SR&ED application process includes the following steps: Identifying SR&ED eligible activities / projects. 

Create a unique  SR&ED case study claim strategy that will maximize your SR&ED submission.

 Identify all associated supporting documentation to defend your SR&ED claim

Prepare technical report for each of the SR&ED projects (as per CRA requirements)

Identify all eligible SR&ED financial expenditures

Prepare the SR&ED tax schedules and file the SR&ED claim with your corporate tax return (within 18 months past the corporate fiscal year end)

- See more at: CTAP

 

SR&ED Process

What is the SRED Process?

Preliminary SR&ED consultation 

sr&ed process Assess eligibility
sr&ed process Identify all areas of qualifying activities
sr&ed process Provide a rough estimate of the value of your claim

The technical write-up

red bullet tiny Assist you to describe your technological objectives, risks, and advancements
sr&ed process Present your systematic R&D approach and effort
red bullet tiny Ensure that you maximize your claim

Filing 

sr&ed process Coordinate the claim process with your accountant and review all relevant tax forms before filing
sred tax credit claim Coordinate technical and financial audits and help you to be ready for them
sred tax credit claim Follow up with federal and provincial agencies to ensure seamless processing of your claim.

SR&ED Process:

Average SRED Processing Times

April 1 to June 30, 2014

SR&ED Claim Process: Type of Claim  Average Days (withinCRA‘s control) Average Days (outsideCRA‘s control) Total Average Time (days)*
 Refundable SR&ED claims 120 Days 40 25 66
SR&ED Refundable claimant-adjusted claims 240 Days 122 60 182
SR&ED Non-Refundable claims 365 Days 96 71 167
SR&ED Non-Refundable claimant-adjusted claims 365 Days 182 92 274
All SR&ED claims 71 42 113

* The average days (within CRA‘s control) and the average days (outside CRA‘s control) may not add up to the Total Average time due to rounding.


CTAP Inc.
SR&ED Tax Credit claim – SRED Consultants – Research and Development – Government Incentive Programs
60 Centurian Drive

P.O. Box: Suite 214

Markham

Ontario

L3R 8T5

Canada