taxation services - r & d tax incentives

EPR offers a wide range of advisory and consulting services for clients involved in Research and Development, from determining eligibility and preparing claims to participating in tax audits. Identifying opportunities that maximize R&D tax benefits is a key component in our value-added approach. Our professionals bring together the right mix of experience and tax knowledge to help enhance your strategic and competitive advantage.

Many independent and growing owner-managed enterprises are conducting legitimate R&D without being aware that valuable tax credits are going unclaimed. Companies that have introduced new products, processes or materials with elements of technological uncertainty into manufacturing or processing operations may be eligible for a tax credit based on the costs of these changes even after the resumption of normal commercial production.

Our integrated strategic tax planning services are designed to avoid this situation and assist business managers in achieving optimum tax treatment through eligible R&D tax credits.

A key area of focus is the Scientific Research and Experimental Development Tax Credit Program. The SR&ED program was introduced by the Federal Government to provide incentives for R&D. For private corporations, this can be up to 35 % of SR&ED costs incurred in the corporation's taxation year. For individuals, up to 20%. The BC Government recently introduced a parallel program based on the same criteria. These tax credits can be used to pay income taxes, or be refunded for use as business working capital or funding for further SR&ED activities.

The types of projects that qualify for SR&ED assistance involve work that focuses on experimental, applied or basic research. Eligible projects are required to meet specific criteria in order to proceed with a claim. The success or failure of the project does not determine its eligibility. SR&ED claims are subject to audit at all stages of the claim process.

EPR can assist by assessing SR&ED eligibility, reviewing the potential for additional subsidies, preparing claims and corporation tax returns, and providing specialized advice on related R&D issues. Our professionals understand the needs of independent business and bring wide-ranging industry experience to help enhance your organization's performance.