Alberta Innovation Employment Grant

Unlock Funding of Up To 20% Toward Qualifying R&D Expenditures

Maximize your R&D investment in Alberta by partnering with Coincide to support your scientific research and experimental development (SR&ED) claim.

in SR&ED Funds Filed & Received for Clients

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SR&ED Files Submitted & Approved By CRA

Federal SR&ED Tax Credit Overview

Eligible entities for the Federal SR&ED include Canadian-controlled private corporations (CCPCs), foreign-controlled corporations, other corporations, and individuals, trusts and partners.

The tax credit can be carried back three years or carried forward 20 years.

Federal SR&ED Amount

  • CCPCs can earn 35% of the qualified expenditures.
  • Qualifying corporations that are also excluded corporations can earn an ITC of 35%, with up to 40% being refundable.
  • Other corporations can earn a non-refundable ITC of 15% on qualified SR&ED expenditures.
  • Individuals, certain trusts, and certain partnership partners are eligible for a 15% ITC, up to 40% of which is refundable.

How to Claim Federal SR&ED

Step 01

Prepare your tax return

Step 02

Complete and file T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim with your return

Step 03

Complete and file either T2SCH31 Investment Tax Credit – Corporations or Form T2038-IND Investment Tax Credit (Individuals) with your return

Alberta Innovation Employment Grant Overview

The Alberta Innovation Employment Grant offers up to 20% back on qualifying expenditures for small and medium-sized businesses in Alberta that invest in research and development, regardless of their industry.

SR&ED Amount

SR&ED credits in Alberta provide an 8% payment towards a corporation’s R&D spending in a given year, up to a corporation’s base spending level.

An enhanced 20% payment is available for eligible R&D spending that exceeds the corporation’s base spending level.

Special Conditions

Eligible expenditures for the Alberta SR&ED must have been incurred in Alberta after December 31, 2020, and match those that qualify for the federal Scientific Research and Experimental Development Tax Incentive Program.

A corporation’s base level of spending is determined by calculating its average qualifying R&D spending over the previous two years.

How to Claim

Complete your tax return

Complete and file T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim with your return

Complete and file T2SCH31 Investment Tax Credit – Corporations with your return

Complete and file Innovation Employment Grant – AT1 – Schedule 29 (Form A29) with your return

SR&ED Amount

SR&ED credits in Alberta provide an 8% payment towards a corporation’s R&D spending in a given year, up to a corporation’s base spending level.

An enhanced 20% payment is available for eligible R&D spending that exceeds the corporation’s base spending level.

Special Conditions

Eligible expenditures for the Alberta SR&ED must have been incurred in Alberta after December 31, 2020, and match those that qualify for the federal Scientific Research and Experimental Development Tax Incentive Program.

A corporation’s base level of spending is determined by calculating its average qualifying R&D spending over the previous two years.

How to Claim

Complete your tax return

Complete and file T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim with your return

Complete and file T2SCH31 Investment Tax Credit – Corporations with your return

Complete and file Innovation Employment Grant – AT1 – Schedule 29 (Form A29) with your return

Book a Consultation

“Hiring Coincide was one of the best decisions for our company. They take care of us, and we are very pleased with their service. Our claims are always well prepared, accurate, and on-time. They take the time to review the strategy with every claim. Coincide have also been very helpful in dealing with our auditors and tax authorities – allowing us to focus on our business.”

Marwan Jamous President at Strategy Point Innovations

SERVICES

Helping Your Business Maximize the Alberta Innovation Employment Grant

Coincide offers specialized support tailored to Alberta’s specific SR&ED claims process, from claim preparation to securing financing, ensuring a beneficial outcome for your Canadian-controlled private corporation.

Learn More

Claim Submission

Leverage Coincide’s deep understanding of Alberta’s SR&ED landscape to help you receive the maximum tax credit amount. Our assistance includes:

  • Identifying and validating eligible expenditures and projects
  • Completing support for audit defence
  • Preparing technical and financial reports
  • Providing training and support on Alberta’s SR&ED tax credits
Learn More

Financing Assistance

Following your claim submission, Coincide can help you in securing financing. Our service includes:

  • Collaborating with financial institutions to highlight your project’s eligibility for Alberta SR&ED credits
  • Assisting in project verification to enhance funding prospects
  • Facilitating quick access to bridge loans for prompt availability of funds

“A very professional and experienced team who have helped us navigate through the entire SR&ED process. They led all the upstream work required for our submission (technical report write up, financial form completion, periodic follow ups during the year) and also assisted with CRA’s follow up meetings and audits. With the help of Coincide, our SR&ED claims have, so far, been accepted as filed.”

Patrick Normand Director at VJO Canada

OUR PROCESS

Steps to Getting Your Alberta SR&ED Grant With Coincide

01. Book a Consultation

Discuss your project details with our SR&ED specialists to evaluate its eligibility for the grant. Once we confirm eligible expenses, we will initiate the claim process.

02. We Create a Master Service Agreement

We create a Master Service Agreement detailing our collaboration and the scope of services provided. This agreement clarifies our role and strengthens our commitment to maximizing your SR&ED claim.

03. Put The Claim Together

Our team will thoroughly review your project’s relevant records and data, such as payroll records and purchase receipts. Using this data, we will compile a detailed claim to ensure a smooth filing process.

04. Submit Forms

Coincide will prepare and provide all required documentation to your accountant, adhering to both federal and Alberta-specific tax filing guidelines. Your accountant will use these forms, including the T661 form, for corporate filing.

05. Get Financing Support

If immediate access to your tax credit is required, we can coordinate with your financial institution to arrange a bridge loan prior to the government disbursing your SR&ED credit.

06. Receive Your SR&ED Tax Credit

Once approved by the Canada Revenue Agency (CRA), expect to receive your SR&ED tax credit cheque within 60 business days.

Book a Consultation

“Coincide has been our trusted SRED partner for years. The team has always been there to support us with our submissions. For a group of researchers, having someone like Coincide to rely on is key – they worry about the SRED claim which allows us to focus on drug development.”

Sharon Garcia Director at PeriScope Research

WHY CHOOSE US

We “Coincide” Our Business Values With Yours.

Coincide is a leading consulting firm committed to helping Alberta’s small and medium-sized businesses maximize tax benefits through the provincial innovation employment grant.

SR&ED Consultants With Exceptional Tax Credit Success

With more than 15 years of proven experience in Alberta’s SR&ED landscape, we have provided expert support to a wide range of businesses, from tech startups to health sciences. Our team ensures clients maximize their returns on SR&ED claims through knowledgeable and tailored guidance.

Helping You Maximize Your SR&ED Claim

Our extensive knowledge of SR&ED regulations and eligible expenditures enables us to help you secure the maximum possible tax credit. Through a meticulous and detailed process, we ensure that each claim is optimized to deliver the highest financial advantage for your business.

We Have a Network of Reliable Contacts

At Coincide, we provide access to a well-established network of financial and government contacts to assist you throughout your Alberta SR&ED claim process. This proactive support boosts your chances of successfully securing a refundable tax credit, offering peace of mind and reliable guidance when you need it most.

DO YOU QUALIFY? Start Your Alberta SR&ED Tax Credit Journey Today

Book a consultation today and get the most out of the scientific research and experimental development tax credit in Alberta.

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FREQUENTLY ASKED QUESTIONS

Are large enterprises eligible for the Alberta Innovation Employment Grant?

The Alberta Innovation Employment Grant is aimed at economic growth in Alberta and available to small and medium-sized companies. The grant has been phased out for corporations with between $10 million and $50 million in taxable capital.

How does the Alberta Innovation Employment Grant differ from the federal SR&ED tax credit?

The Alberta Innovation Employment Grant is a provincial program designed to support small and medium-sized businesses in Alberta, offering up to 20% back on qualifying R&D expenditures. In contrast, the federal SR&ED tax credit is a national program that provides tax credits for eligible research and development activities across Canada. While the federal SR&ED must be claimed first, the Alberta Innovation Employment Grant can further enhance the benefits for Alberta-based companies by providing additional support for R&D spending.

How long does it take to receive the Alberta Innovation Employment Grant after filing?

The time it takes to receive the Alberta Innovation Employment Grant after filing can vary, but most businesses can expect to receive their grant within a few months after submitting their claim, provided all documentation is accurate and complete. The processing time may also depend on the complexity of the claim and any additional reviews or verifications required.