Scientific Research & Experimental Development

The Scientific Research and Experimental Development (SR&ED) is the largest single source of Canadian federal government support that incentivize business-led research and development projects. The program provides more than $3 billion in tax incentives to over 20,000 claimants annually.

Your business man benefit from the SR&ED tax incentives. Mimco Technologies, Inc. provides services to organizations performing SR&ED and seeking Government assist and refund for business-led research and development projects.

Any eligible SR&ED work you are doing, you can use your pool of deductible SR&ED expenditures to reduce your net income for tax purposes in the current year or deduct them in a future year.

Your ITCs will be at least 15% and can be as much as 35% of your qualified SR&ED expenditures. You can use the ITCs to reduce your income tax payable for the year. If you have excess ITCs in the current year, you may also get a refund. If you have any unused ITCs, you can carry them back 3 years or forward 20 years and apply them against tax payable for other years.