Services FAQ

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Please click on any of the questions below to read its answer.

Who is BeneFACT?

BeneFACT Consulting Group is Canada’s largest independent Scientific Research & Experimental Development (SR&ED) consulting firm. BeneFACT utilizes market-leading financial and technical expertise to ensure that companies maximize their R&D refunds. Serving the Manufacturing, Information Technology, Food & Beverage, Oil & Gas, Chemicals, Agri-Business & Life Sciences industries, BeneFACT is uniquely positioned to provide risk-free service to businesses seeking SR&ED tax credits.

What is the background of BeneFACT's Technical Consultants?

Our technical consultants hold Masters or Ph.D. degrees in relevant fields of science or engineering. Many have authored their own research publications. We understand your industry and our consultants will quickly and accurately identify all of your eligible projects. We simplify and guide you through the entire preparation process. Our technical experts prepare all necessary technical documentation with minimum time commitment or effort on your part.

How experienced are BeneFACT's Financial Consultants?

Because of our exclusive focus on the SR&ED and digital media claim preparation, we are able to constantly monitor the latest tax and government legislation and rulings for the SR&ED program in all jurisdictions. This allows us to ensure our clients receive full credit for all of their R&D activities. Our experts will recognize even the most non-intuitive, unclear and complex expenses and ensure that they are included in your filing.

What is BeneFACT's reputation?

BeneFACT has built a strong reputation with Revenue Canada auditors for accuracy, integrity and full eligibility of submitted claims. We are uniquely qualified to handle even the most complex SR&ED submissions. We guarantee to prepare on your behalf a complete, accurate, and fully compliant SR&ED claim that maximizes your entitlement in every eligible category.

Can BeneFACT ensure confidentiality of my claim?

Many of our clients are engaged in the development of proprietary technologies. BeneFACT offers confidentiality agreements – in writing – to our clients before the commencement of each engagement. We guarantee that all information conveyed to us in the course of SR&ED claim preparation will be kept in the strictest of confidence.

Can BeneFACT provide client testimonials and references?

To date, BeneFACT has filed successful applications in nearly all industries. We would be pleased to provide testimonials and references from other clients in your industry.

Does BeneFACT provide services across Canada?

Yes, BeneFACT provides its comprehensive SR&ED claim preparation services to clients in all provinces. We will also assist you in applying for all applicable Provincial R&D refunds.

Are there provincial R&D tax incentives?

Yes. Most Canadian provinces and territories offer complementary R&D tax incentives. The specific percentages of expenditures that can be recovered and refund criteria vary from province to province. Our comprehensive services include application for both the Federal and Provincial ITC programs.

We already prepare our own SR&ED claims

Many of our new clients experience a significant increase in their SR&ED refunds when using BeneFACT’s comprehensive end-to-end services. We’ve found that several not-so-obvious entitlements and activities are routinely missed or under-claimed. A professionally prepared claim maximizes your refund, presents your work to the CRA in a proper, prescribed format, frees your staff to focus on core activities and greatly reduces the chances of financial and/or technical reviews. In addition, BeneFACT provides you with post-claim guidance to maximize your future claims and free SR&ED expenditure tracking tools.

My accountant is already taking care of our SR&ED claim

We offer a complementary service to that of your accounting firm. Because we focus exclusively on SR&ED tax credits, we are able to identify many obscure and often-missed entitlements that can constitute a substantial portion of your claim. We constantly monitor the latest government legislation and rulings in all jurisdictions to ensure our clients receive full credit for all their R&D activities. Many of our partner accounting firms rely on our expertise to ensure their clients have high-quality professionally prepared claims which maximize their benefits.

Will my entire business be audited if I apply for SR&ED?

No. Historically, government auditors enhanced their careers by the volume of dollars recovered from taxpayers. SR&ED – on the other hand – is an incentive program to encourage innovation in Canada. The SR&ED reviews are separate from the CRA audits. For example, Revenue Canada clearly indicates in its publications that the SR&ED reviews do not extend into full business audits.

 

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