Innotek is a consulting firm located in Vancouver, B.C that provides advances SR&ED consulting services for Canadian businesses ensuring the best returns and outcomes possible!
So you may be wondering, how can a consultant help my business reach it’s full potential?
It is a continuous battle for businesses in today’s economy to stay competitive by minimizing costs without sacrificing investments to expand their business activities. Many companies are unaware that they are eligible for refunded expenses every year but this is a great outlet for expansion and improvement to your business.
Here is how the process works:
- We will meet with you to identify your claimable projects and determine SR&ED eligibility.
- Prepare a comprehensive technical report detailing experimental activity
- Prepare all financial documentation such as; tax schedules and accounting reports
- Submit documentation for your review prior to sending it to the Canadian Revenue Agency
The SR&ED program has certain standards for processing SR&ED claims in Canada, these are:
- Refundable claims- 120 calendar days from receipt of a complete claim
- Non-refundable claims- 365 calendar days from receipt of a complete claim
- Claimant- requested adjustments to refundable claims- 240 calendar days from receipt of a complete claim
- Claimant- requested adjustments to non-refundable claims- 365 calendar days from receipt of a complete claim
The objective of a SR&ED program is to deliver the SR&ED tax credit in a timely manner, while utilizing research and development performers to prepare claims that comply with tax laws, policies, and procedures.
If you are interested in finding a consulting firm that can help you contact Innotek Consulting LTD at 604 259 9937 or visit us online to book a consultation appointment today!