📈 Calculate Your SR&ED Tax Credits
What is SR&ED? The Scientific Research and Experimental Development (SR&ED) program provides federal and provincial tax credits for eligible R&D expenses in Canada. Credits can be refundable (cash back) or non-refundable (reduce taxes owing).
📊 Your Estimated SR&ED Tax Credits
Total Eligible Expenditures:
$0
Federal ITC Rate:
0%
Federal ITC Amount:
$0
Provincial Credit:
$0
Total Tax Credits:
$0
❓ Frequently Asked Questions
What expenses qualify for SR&ED in Ontario?
Eligible expenses include wages for employees performing R&D, materials consumed, subcontractor payments (at 80% rate), and overhead (proxy method at 55% of wages). Work must involve technological advancement and systematic investigation. Insight Accounting CPA in Mississauga helps Ontario businesses identify all qualifying expenses across the GTA.
What is the difference between CCPC and non-CCPC SR&ED rates?
CCPCs (Canadian-Controlled Private Corporations) can claim a 35% federal enhanced ITC on the first $3M of qualified expenditures if under the taxable income threshold ($500k), plus full refundability. Non-CCPCs receive 15% federal ITC, non-refundable. Ontario businesses should structure carefully—Insight Accounting CPA in Toronto and Mississauga specializes in SR&ED optimization.
Does Ontario have a provincial SR&ED credit?
Yes. Ontario offers a 3.5% refundable OITC (Ontario Innovation Tax Credit) on eligible expenditures, plus an 8% refundable OIDMTC for digital media and entertainment software. These stack with federal credits. Insight Accounting CPA helps GTA businesses claim maximum provincial and federal credits for R&D work performed in Ontario.
When are SR&ED claims due in Canada?
SR&ED claims must be filed within 18 months of the corporation's tax year-end. Late filing results in forfeiture of credits. Documentation must be thorough and contemporaneous. Mississauga CPA firms like Insight specialize in preparing SR&ED claims for Ontario tech companies, manufacturers, and startups across the Toronto region.
Can startups and pre-revenue companies claim SR&ED?
Absolutely. CCPCs with no tax liability can receive fully refundable SR&ED credits—cash back from CRA. This is critical for early-stage tech companies. Insight Accounting CPA in Mississauga and Toronto helps Ontario startups maximize cash flow through SR&ED refunds while maintaining CRA compliance and audit readiness.