What Qualifies for SR&ED?
Some Questions to ask yourself:
- Have you changed a process to reduce costs or to improve your manufacturing?
- Have you created a new product, made improvements or added new features to an existing product, or built a prototype?
- Have you designed or developed new software?
- Have you incurred costs related to a process, project or prototype that is incomplete because of unresolved technical problems?
- Are you involved in engineering, design, data collection, testing or other developmental work?
Many companies are not aware that they engage in qualifying SR&ED activities. NorthBridge will identify all eligible SR&ED projects and subsequently deliver successful claims.
The Three Criteria of SR&ED: Technological Uncertainty, Technical Content and Technological Advancement
Technological Uncertainty: The existence of an uncertainty implies that there is no textbook solution (i.e. known methods or procedures) to solve a problem in an existing field of science. The work that is claimable must go above and beyond the existing knowledge base (i.e. baseline).
Technical Content: The scientific process must be evident in the work claimed. It must involve a systematic investigation, experimentation, or analysis by qualified personnel.
Technological Advancement: The final progress made needs to have resolved the uncertainty and advance the previous understanding of the technology.
To learn how the experts at NorthBridge can help you recover the costs of ideas and advancements, or if you are unsure whether the work you do qualifies for the SR&ED program, contact us for a free consultation.