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
Assess eligibility
Identify all areas of qualifying activities
Provide a rough estimate of the value of your claim
The technical write-up
Assist you to describe your technological objectives, risks, and advancements
Present your systematic R&D approach and effort
Ensure that you maximize your claim
Filing
Coordinate the claim process with your accountant and review all relevant tax forms before filing
Coordinate technical and financial audits and help you to be ready for them
Follow up with federal and provincial agencies to ensure seamless processing of your claim.
SR&ED Claim Process: Type of Claim | Average Days (within CRA‘s control) | Average Days (outside CRA‘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.