Myths & Misconceptions

It's your money and you owe it to yourself to know the facts. The following list highlights the top myths and misconceptions surrounding SR&ED:

• You need to succeed in your research and development to qualify. Finding the solution is not necessary to qualifying for SR&ED. You need to attempt to solve technological problems and obstacles; whether or not you succeed is not relevant in qualifying for the program.
• You need to be the first to solve this problem. This is not necessarily the case. If one of your competitors has the solution to your technological problem, but this knowledge is not available in the public domain, then you could qualify for SR&ED.
• We do R&D, so we qualify. Conducting R&D does not automatically mean you qualify for the SR&ED program. Solving technological problems using standard engineering practices or known scientific methods is not eligible. You must unearth the nuggets of work within your R&D efforts that qualify.



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• We are not the first to develop it, so we don't qualify.
• We don't have a lab and we don't do any R&D, so we are not eligible.
• It is too complex and time consuming.
• Our intellectual property and secrets would be at risk.
• We are not yet generating profit, so the tax credit would be useless.
• We risk being audited in other areas of our company if we apply.
• We already get other government grants, so we cannot claim SR&ED.
• We outsource our developments to a third party, so they get to claim it.
• Our previous claim was deemed ineligible by CRA, so we simply don't qualify as a company.
• Our accountant takes care of it.
• Our documentation is insufficient.
• It is only for Big Businesses, and my company has less than five employees.
 

Many companies qualify but don't realize it! So take our five easy step questionnaire to find out if you qualify:



R&D ONE provides free initial assessments of eligibility, and only gets paid if you receive your tax incentive.

It is risk free! Contact us directly, either by phone 1.877.266.0005 or e-mail principals@ideaciaone.ca, to discuss how R&D ONE might be able to help your business.