QUEBEC SR&ED Investment Tax Credits

Unlock Refundable Tax Credits for Your R&D

Optimize your tax savings and enhance your return on innovation in Quebec by partnering with Coincide for your scientific research and experimental development (SR&ED) tax credit claims.

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in SR&ED Funds Filed & Received for Clients

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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, qualifying trusts, and 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

Quebec Research & Development Tax Credit Overview

The Quebec SR&ED is a refundable tax credit. There are four tax credits that can be claimed:

  1. Tax credits for salaries or wages
  2. Tax credits for university research or research carried out by a public research centre or a research consortium
  3. Tax credits for private partnership pre-competitive research
  4. Tax credits for fees or dues paid to a research consortium

Eligible entities for the Quebec SR&ED include CCPCs, foreign-controlled corporations, other corporations, individuals or beneficiaries of a trust, and members of a partnership that operates a business in Canada.

Tax Credit for Salary or Wages Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium Tax Credit for Private Partnership Pre-Competitive Research Tax Credit for Fees or Dues Paid to a Research Consortium

Tax Credit for Salary or Wages

The salary and wages tax credit is related to salaries and contracts.

Special Conditions

There is an exclusion amount that must be deducted from eligible expenditures for a given year. The basic exclusion is $50,000 and increases linearly up to $225,000.

How to Claim

Prepare 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 forms RD-222-V and RD-1029.7 Tax Credit Relating to Wages – RD

Special Conditions

There is an exclusion amount that must be deducted from eligible expenditures for a given year. The basic exclusion is $50,000 and increases linearly up to $225,000.

How to Claim

Prepare 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 forms RD-222-V and RD-1029.7 Tax Credit Relating to Wages – RD

Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium

This tax credit is related to a signed contract with a university, a public research centre or consortium located in Quebec for carrying out R&D work in the province of Quebec.

Special Conditions

80% of the R&D contract qualifies as eligible contract.

How to Claim

Prepare 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 forms RD-222-V and RD-1029.8.6.

Special Conditions

80% of the R&D contract qualifies as eligible contract.

How to Claim

Prepare 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 forms RD-222-V and RD-1029.8.6.

Tax Credit for Private Partnership Pre-Competitive Research

This tax credit is related to a private partnership agreement to carry out R&D work or to have R&D work carried out on its behalf in the province of Québec.

How to Claim

Prepare 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 forms RD-222-V and RD-1029.8.16.1-V

How to Claim

Prepare 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 forms RD-222-V and RD-1029.8.16.1-V

Tax Credit for Fees or Dues Paid to a Research Consortium

This tax credit is related to fees or dues paid by the taxpayer to a qualified research consortium to carry out R&D work in Québec.

Special Conditions

Qualified R&D expenditures are determined by the multiplication of
a taxpayer’s share in the research consortium.

How to Claim

Prepare 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 form RD-1029.8.9.03-V

Special Conditions

Qualified R&D expenditures are determined by the multiplication of
a taxpayer’s share in the research consortium.

How to Claim

Prepare 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 form RD-1029.8.9.03-V

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 Quebec Business Maximize the SR&ED Credit

Coincide delivers tailored guidance for Quebec’s specific SR&ED claims process, from initial filing to securing financing, ensuring a streamlined and advantageous outcome for your Canadian-controlled private corporation.

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Claim Submission

Coincide’s experts have in-depth knowledge of Quebec’s SR&ED landscape and will enhance your filing process for maximal investment tax credit returns. Our support includes:

  • Identifying and validating eligible expenses and projects
  • Completing support for audit defence
  • Preparing technical and financial reports
  • Providing Quebec tax credit training and support year-round
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Financing Assistance

Once your claim has been submitted, Coincide can help you secure financing before approval. Our financing assistance service includes:

  • Liaising with your desired financial institution to understand your project and provide assurance that you will receive SR&ED credits
  • Ensuring project validation aligns with Quebec’s SR&ED requirements, increasing your chances of securing funding
  • Facilitating 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 Quebec SR&ED Tax Credit With Coincide

01. Book a Consultation

Schedule a meeting with our SR&ED specialists to discuss your project specifics. We’ll analyze the eligible SR&ED aspects to confirm the claim’s qualification. If we determine the project has incurred eligible expenses, we will proceed with the claim.

02. We Create a Master Service Agreement

We create a Master Service Agreement that details our collaborative effort and the extent of services provided. This agreement will help ensure a clear understanding of our role and solidify our commitment to maximizing your SR&ED tax credit.

03. Put The Claim Together

Our team will complete a thorough evaluation of your project’s relevant records and data, such as payroll and purchase invoices. Based on the collected information, we will create a comprehensive claim to facilitate a seamless filing process.

04. Submit Forms

Coincide prepares and hands over all necessary documentation to your accountant, ensuring compliance with federal and Quebec-specific tax filing requirements. Your accountant will use these forms, such as the T661 form, during corporate filing.

05. Get Financing Support

Should you wish to receive your tax credit immediately, we can coordinate with your financial institution to secure a bridge loan that can be used before the government issues your SR&ED credit.

06. Receive Your SR&ED Tax Credit

Once the Canada Revenue Agency (CRA) approves your claim, you can expect to receive your well-deserved 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 premier consulting firm dedicated to assisting Quebec small and medium-sized businesses in securing tax benefits for scientific research and experimental development.

Over 15 Years of SR&ED Tax Credit Success

For more than a decade and a half, Coincide has helped businesses throughout Quebec navigate the SR&ED landscape. Our expertise spans various sectors, from pharmaceuticals to software development, facilitating the successful acquisition of SR&ED tax credits.

Help You Maximize Your Claim

Using our extensive experience analyzing SR&ED projects, we know what constitutes qualified expenditures, helping you extract the maximum benefits from the SR&ED tax credit. Our meticulous attention to detail ensures that each claim is optimized, capturing every opportunity for financial advantage.

We Have a Network of Reliable Contacts

Should you encounter any uncertainties regarding your claim approval, we can connect you with financial or government contacts to proactively address any issues prior to claim submission. This approach significantly enhances the likelihood of a successful approval of your claim.

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

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

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FREQUENTLY ASKED QUESTIONS

What can be claimed on Quebec SR&ED?

In Quebec’s SR&ED program, you can claim:

  • Salaries and wages for R&D personnel
  • Certain overheads associated with R&D activities
  • Contractual R&D costs
  • Costs related to third-party payments for R&D

Expenditures that cannot be claimed include:

  • Lease costs of equipment used for SR&ED
  • Capital expenditures
  • Expenditures on shared-use equipment
Can tax-exempt corporations claim SR&ED?

No, tax-exempt corporations are not eligible to claim SR&ED tax credits because these incentives are designed to offset income tax liabilities, which tax-exempt entities do not incur.

Can my Quebec company receive SR&ED if my project isn’t successful?

Yes, the success of an R&D project does not impact the eligibility of your claim.