Frequently asked questions
Frequently asked questions
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When do I need to submit my SR&ED claim?
When do I need to submit my SR&ED claim?
You have a submission deadline of 18 months after your corporation's fiscal year end. We can work with your accounting department to prepare a SR&ED claim to coincide with your original tax filing or prepare an amended claim afterwards.
How long does it take to process my claim?
How long does it take to process my claim?
It varies depending on the time of year. Most corporations have a December 31st year end and a June 30th filing deadline, which results in an April to June crunch for our industry. You will typically get a notice of acceptance within 8-12 weeks and a credit or refund within 3-6 months.
What if my claim is not "accepted as filed"?
What if my claim is not "accepted as filed"?
Your very first SR&ED claim will typically be selected for a first time claimaint review, in which a research and technology advisor (RTA) will provide an information session as an introduction to the program. In the event that a technical RTA needs clarification on the technical details of your project or a financial RTA needs to review your expense support, a more formal review may be scheduled to assess eligibility in person. While the occurence of such reviews is infrequent, we will support you through this entire process if it occurs.
Can my SR&ED claim be denied?
Can my SR&ED claim be denied?
Our staff carefully assess project eligibility during the initial consultation and structure claims around only eligible activities. The more common scenario could be a reduction in claim size, depending on the nature of included expenses, available supporting documentation or the financial RTA's own discretion. We provide full support throughout the review process.
What does the fee structure look like?
What does the fee structure look like?
We offer either a time & materials billing structure up front or a contingency fee based on the accepted ITCs after your refund is received.
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