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Research & Development Tax 

Helping you make the most of R&D tax incentives

 

Finding ways to gain tax credits is always important. Research & Development (R&D) tax incentives can have a significant impact on your bottom line, as they can help you offset taxes payable.

 

If your company undertakes product and process development activities, you may qualify for the Canadian federal government's tax incentive program for technological innovation.

Research & Development Tax

Through its tax incentive program for technological innovation, the federal government delivers billions of dollars annually to companies doing research and development (R&D) in Canada.

 

Meeting these challenges

 

Our R&D tax team of engineers, accountants, and tax professionals can help determine whether your company is eligible to recover tax credits for the current year and prior years (subject to certain time limits). You may be able to enhance tax credits to offset taxes payable and, in some cases, receive refundable cash incentives.

 

Working with you, our team can help:

 

  • Identify eligible R&D activities and expenditures so you can enhance your investment tax credits
  • Develop technical descriptions of your R&D activities and prepare tax forms
  • Prepare or review your R&D claims to confirm that they contain the necessary information
  • Train staff , prepare technical reports, and set up a control system for filing reports and supporting financial data
  • Participate in Canada Revenue Agency (CRA) reviews to help you justify the validity of the scientific and financial basis for your claim, and process it to its successful conclusion
  • Conduct strategic R&D tax planning to identify opportunities to restructure or relocate your operations and activities to enhance R&D tax benefits
  • Review your organization's mix of international R&D projects in light of tax benefits granted by various countries. We can draw upon the resources of KPMG's R&D Tax Incentives professionals around the world.

 

The bottom line

 

Our R&D professionals can help you enhance R&D tax credits while freeing up your technical staff's time so they can focus on implementing your corporate vision for innovation.

 

Additional Tax Credit Programs

 

R&D Tax Credits are just one of the many tax credits available in Canada. You may also qualify for other federal and provincial government incentives in such areas as:

 

  • Apprenticeships
  • Biotechnology
  • Co-operative Education
  • E-Business
  • Film, video, and television production
  • Industrial research
  • Interactive digital media.

 

We can help you identify which programs you may be eligible for in the current year and in previous years. You may be able to offset taxes payable and, in some cases, receive refundable cash incentives.

 

To find out more about public funding and industrial support programs in Canada, please visit the Funding Portal.

 

 Contact

Carlo Ciaramitaro

Carlo Ciaramitaro

Partner, Tax - National Practice Leader - R&D Tax Incentives Practice

519-251-3522

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Americas R&D incentives and services – 2014 edition

Americas R&D incentives and services – 2014 edition
The Americas R&D incentives & services 2014 guide provides country-specific information on the tax treatment of R&D expenditures and incentives.

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