SR&ED = Government of Canada cheques
for Canadian Controlled Private Corporations
Most companies are mystified by the academic prism that CRA uses to determine eligibility. They're all Intimidated by the paperwork.
Not all salaries, contract payments, or materials costs qualify! This is a grey area, particularly in software and IT. Qualified experts may disagree over whether you work constitutes routine application software development, or whether it qualifies for SR&ED.
We'll collaboratively prepare the documentation that the CRA requires
Your internal systems may capture the time you and your staff use to record their time or you may choose use templates that I'll customize for your circumstances, We'll describe your technical obstacles, solutions, and the work you performed in 4 pages.
We'll determine the portions of salaries and contractor fees that qualify for SR&ED.
The CRA wants to see records that record their time and activities. Minimum monthly.
We'll forward financial data to your accountant to enter into his tax software and E-File your T2 corporate income tax return...
Your accountant will also enter technical information that you and I prepare to explain why your activities qualify. I'll compute the complicated financial data needed in your T2 corporate income tax return. Most accountants don't know how.
... then wait for your SR&ED cheque to arrive.
Do not submit your T2 without SR&ED documentation, because that will delay your cheque. CRA intentionally delays SR&ED cheques attached to amended T2s, because CRA doesn't want to use its scarce resources twice.
I'll be your advocate, if the CRA decides to audit your SR&ED claim.
It'll help to have experienced advocate who understands CRA's jargon to view your activities from the CRA's perspective.