We had losses and we didn’t pay any taxes in the last
few years. We didn’t realize we qualify for the SR&ED
tax credit.
But BeneFACT still managed to secure refund cheques for
us!
Even if your company incurred losses and it had no taxable income,
your SR&ED tax credit most likely will still be 
refundable
to you and will come to you in a form of cheques from both federal
and provincial governments.
Generally speaking, SR&ED related tax credits earned in the
taxation year can be either applied against taxes payable in that
year, refunded to the claimant even if no taxes were paid (if applicable),
carried forward and claimed in the 20 subsequent years or carried
back and applied against taxes payable in the three preceding years.
We thoroughly investigate each client’s unique situation
to assess the direct refundability of their credits. The refundability
criteria are dictated by the entity’s legal form, ownership
(foreign vs. Canadian, public vs. private), historical taxable income
on an associated group basis and taxable capital (a balance sheet
measure).
We find that over 90% of our clients are eligible for the cash refunds
regardless of their current taxable position.
BeneFACT works with many early start-ups and IT incubators where
no revenue is yet generated. We also assist larger, mature companies
that are currently in a loss position. We would be please to offer
advice on how much cash you can receive for the work that you have
performed.