Incentives, Grants & SR&ED
Maximize government funding through SR&ED tax credits, IRAP grants, provincial incentives, and other innovation funding programs. We identify, document, and claim every dollar your business is entitled to.
What We Do & Why It Matters
Canada offers some of the most generous R&D tax incentives in the world - yet billions of dollars in eligible credits go unclaimed every year because businesses either don't know they qualify or lack the documentation to support a claim. TYM's incentives team combines deep technical knowledge of the SR&ED program with CPA-level financial expertise to identify, document, and defend claims that withstand CRA scrutiny. We work with technology companies, manufacturers, life sciences firms, and any business investing in innovation.
- SR&ED (Scientific Research and Experimental Development) tax credit claims - up to 35% refundable for CCPCs
- IRAP (Industrial Research Assistance Program) grant applications and reporting
- Provincial R&D incentive programs (Ontario, BC, Quebec, and others)
- Federal and provincial hiring grants and wage subsidies
- Export Development Canada (EDC) programs for exporters
- Contemporaneous documentation strategy to support CRA review
- CRA SR&ED audit defense and appeals
Everything Covered in This Service
SR&ED Eligibility Assessment
A thorough review of your R&D activities against CRA's five eligibility criteria to identify qualifying projects and estimate potential credits before you commit to a claim.
Technical Narrative Preparation
Preparation of the technical project descriptions required by CRA, written to clearly demonstrate technological uncertainty, hypothesis, and systematic investigation.
Financial Claim Calculation
Calculation of all qualifying SR&ED expenditures - salaries, contractor costs, materials, and overhead - using the proxy or traditional method, whichever is more advantageous.
T661 Form Preparation
Complete preparation and filing of Form T661 (Scientific Research and Experimental Development Expenditures Claim) as part of your corporate tax return.
Documentation Strategy
Development of a contemporaneous documentation system to capture SR&ED evidence throughout the year, reducing the risk of CRA challenges.
IRAP Application Support
Assistance with IRAP (Industrial Research Assistance Program) applications, milestone reporting, and claim submissions for eligible R&D projects.
Provincial Incentive Programs
Identification and application for provincial R&D incentive programs, hiring grants, and wage subsidies available in your province.
CRA Audit Defense
Representation before CRA's Research and Technology Advisors (RTAs) and Financial Reviewers during SR&ED audits, including preparation of technical responses and appeals.
Year-Round Planning
Ongoing advice on structuring your R&D activities and documentation practices to maximize future SR&ED claims.
How We Work With You
Eligibility Review
We conduct a detailed review of your R&D activities, projects, and expenditures to identify SR&ED-eligible work and estimate the potential credit value. This is typically done at no charge.
Documentation Audit
We review your existing documentation - project plans, meeting notes, test results, timesheets - to assess what evidence exists and identify gaps that need to be addressed.
Technical Narrative Development
Working closely with your technical team, we develop the project descriptions that form the core of your SR&ED claim, articulating the technological uncertainty and experimental approach in CRA-compliant language.
Financial Calculation
We calculate all qualifying expenditures, apply the appropriate ITC rate, and prepare the financial schedules for your T661 claim.
Filing & CRA Liaison
We file your SR&ED claim as part of your T2 corporate tax return and serve as your primary point of contact with CRA if the claim is selected for review.
Industry Facts & Context
Everything You Need to Know
Detailed context on how this service works, what it covers, and why it matters for your business.
SR&ED Tax Credits for Canadian Businesses
The Scientific Research and Experimental Development (SR&ED) program is Canada's largest federal tax incentive, offering refundable credits of up to 35% for qualifying R&D expenditures. TYM's SR&ED specialists help technology companies, manufacturers, and innovative businesses identify eligible projects, prepare technical narratives, and file claims that withstand CRA review. We have helped clients across software, biotech, engineering, and manufacturing sectors recover millions in SR&ED credits - often for work they were already doing.
R&D Tax Credit Eligibility in the United States
The US Research and Development Tax Credit (Section 41) provides a dollar-for-dollar reduction in federal tax liability for qualified research activities. Many small businesses and startups are eligible but never claim the credit due to complexity or lack of awareness. TYM's tax credit consulting team evaluates your R&D tax credit eligibility, documents qualifying activities and expenditures, and prepares Form 6765 for filing. Startups with no tax liability can even apply the credit against payroll taxes - making it valuable from day one.
Government Grants and Incentive Programs
Beyond SR&ED and R&D credits, TYM helps clients identify and apply for federal, provincial, and state grant programs. From IRAP (Industrial Research Assistance Program) in Canada to SBIR/STTR programs in the US, our team stays current on available funding and helps you build compelling applications. We also advise on the Work Opportunity Tax Credit (WOTC), the Employee Retention Credit (ERC), and other payroll-based incentives that can significantly reduce your effective tax rate.
Common Questions
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