SR & ED Tax Consulting Services

Many organizations' Research and Development activities may qualify for federal and provincial tax credits. The Canadian government's Scientific Research and Experimental Development Program (SR&ED or SRED, pronounced "shred") encourages innovation by refunding up to 35% of R&D costs for qualifying companies. Provincial and territorial governments also provide tax credits, for example, Ontario provides an additional 10%.

SOMOS can help maximize the return on your R&D investment through our SR&ED tax consulting services. We can manage your claim from beginning to end, allowing you to focus on your other priorities. Our consultants will identify and assess qualifying activities and costs, prepare technical project descriptions and other required documentation (including amending tax forms and schedules), and participate in CRA scientific and financial audits as required. Alternatively, our consultants can work with internal or external accounting staff to assist with any of these steps, or review internally prepared claims and suggest improvements.

To facilitate on-going and future SR&ED claims, our consultants can establish or improve existing project management processes, systems, and tools to ensure R&D projects are successfully completed and properly documented.

SOMOS has prepared many successful SR&ED claims for our clients in the software development, high technology, and manufacturing fields. Successful claims prepared for our clients included the following R&D activities:

• Developing new computer software or hardware products.
• Combining or using existing technology in new ways.
• Improving existing software and hardware products or development processes.
• Improving a manufacturing process, or an existing product.
• Creating data warehouses that utilize a proprietary data warehouse engine for storing time series data and developing a powerful front-end to access this data.
• Integrating a proprietary data warehouse engine with relational databases in a unique way.
• Bridging two existing software technologies to allow seamless data exchange data.
• Creating advances in digital media technology, including combining new software with existing hardware components in a unique way.
• Resolving technological, scientific, and design problems of failed projects.

Our SR&ED Practice Leader is Greg Doucette. 

Greg can be reached at 1-877-766-6776 or via email: doucette.greg@somos.com