Tracking & Documentation
The Challenge: Tracking SR&ED Documentation
Now more than ever it is of critical importance for claimants to review their existing claim preparation processes and improve evidence gathering methodologies. A new technical guide for claimants and RTA's – The SR&ED Technical Review: A Guide for Claimants – has become the new standard reference point for relevant SR&ED procedures and rules. The Claimants Guide sets forth strict new requirements for documentation, evidence and supporting arguments, providing new insight for claimants looking to better understand the program. Based on the contents of the guide, the CRA has made it clear that proper claim documentation is of utmost importance. Claimants must ensure that they include evidence supporting hypothesis generation, proof of systematic investigation (testing & acknowledged experimentation) and documents noting the date and time of performed work. Claimants who do not seriously consider the importance of documentation are at risk for claim denial, even if the contents of their claim are visibly SR&ED eligible.
The Solution: SR&ED Activities & Time Solution (SATS®)
BeneFACT Consulting Group's SATS software application is revolutionizing the way claimants manage and track their SR&ED data, projects and activities. By centralizing SR&ED documentation, claimants can ensure quick and easy to access to the statistics, documents and evidence they require to support their SR&ED claim. In combination with BeneFACT Consulting Group's industry-leading consulting services, SATS can help any organization maximize their SR&ED tax credits in a compliant and efficient manner.
Project Management:
Add, edit and manage specific projects and related technical obstacles
Track Hours:
Record and track labour hours dedicated to specific projects and technical obstacles
Document Portal:
Centralize the storage of relevant documentation
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The SR&ED Program
The Scientific Research and Experimental Development Program, commonly known as SR&ED, is a tax incentive program offered by the Canadian Government to companies that strive to innovate. The program aims to foster experimentation and technological advancement for the benefit of the Canadian economy. Most importantly, the SR&ED program provides market incentive for the creation of commercially viable products, services and processes.
Contact a SR&ED Expert
Contact us now and a BeneFACT SR&ED specialist will follow up with you shortly.
How Much Can You Recover?
The total amount of credits you receive is dependent upon your corporate structure, taxable income and location of pertinent establishment within Canada. Visit our R&D recovery map and find out how much you can recover.
Get a SR&ED Health Check
Find out how your company's
SR&ED claim compares against
your competitors. Take our
10-Step SR&ED health test and
let us analyze your results.
