SR&ED (Scientific Research & Experimental Development)
is the name of the largest and most important corporate tax incentive program in Canada. The Government of Canada, through the Canada Revenue Agency (CRA), provides tax credits and cash refunds to encourage Canadian companies of all sizes to seek advancement in knowledge in a field of science, medicine, or technology.
There are four main fields of science and technology eligible for SR&ED tax credit benefits in Canada:
- Natural & Formal Sciences
- Engineering & Technology
- Medical & Health Sciences
- Agricultural Sciences
The SR&ED credit program will return up to 68% of the value of incurred expenditures to all corporations in these fields that have attempted to overcome or solve a scientific or medical uncertainty, or alternatively a technological obstacle.