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SR&ED Tax Credit and NRC IRAP Grants

Scientific Research and Experimental Development

Tax Credit - SR&ED

What is the SR&ED Tax Credit?

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The SR&ED tax credit targets a variety of Canadian SMEs and larger science and technology companies who have conducted previous research and development projects, or are in the midst of current projects--directed toward innovation, development, discovery, and new knowledge.

How does it Translate into a Grant?

In BC, the provincial SR&ED tax credit is split with the federal SR&ED tax credit. The Government of BC will reimburse up to 10% of eligible expenses associated with a qualified research project, and on the remaining 90% of expenses, businesses can claim 35% to the Government of Canada. This essentially translates into a 40% reimbursement for project expenses.

Who Qualifies?

Most small, medium and large, science and technology companies' past and present research projects costs are eligible.This is because projects pursued by tech businesses often do fall within the objectives and criteria laid out by the government. Even when projects do not resolve immediate challenges, the research is still invaluable to industry and government.

It is important to note other types of companies beyond science and technology can also qualify. For example, farms that research and develop innovative ways to create environmentally sound technologies to heat greenhouses in the winter would qualify.

National Research Council

Industry Research Assistance Program (IRAP)

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IRAP is an ongoing program, aimed at wealth creation through the support of vibrant small and medium sized companies endeavoring to bring new technologies to market. There is also an emphasis on human resources.

The government, and its partners collaborate with companies to support research and development, and project management. For these small and medium sized science and technology and/or innovative companies, the federal government's shared goal is to encourage growth and stability in an environment often rife with costs and risks. Up to 80% of applications, if realistic and prepared properly, are approved. Successful research and development, and marketing of new technologies, is a force for economic diversification and job creation for those graduating with university degrees. This helps to keep Canada modern and on the cutting edge of new technolgies.

Everyone Benefits!

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