Scientific Research and Experimental Development (SR&ED) detailed in subsection 248(1) of the Income Tax Act can be summarized as: …systematic investigation or search carried out in a field of science or technology by means of experiment or analysis . . . to advance scientific knowledge or to achieve technological advancement.
Therefore, any Canadian business operating today, meeting the criteria above is eligible for the SR&ED tax credit. The question now is how much are you eligible for? Contact BeneFACT Consulting Group today to find out more.