FAQ – Government Grants, Credits and ITCs – SRED Refund – Calgary SR&ED

CalgarySRED, a division of NX Technology Group Inc. is assisting businesses operating in all over Canada (not just Alberta and BC) to recover their eligible research and development (R&D) expenses within Government of Canada supported SR&ED (Scientific Research and Experimental Development) program. We help our clients prepare an application for a refund while guiding and supporting them throughout the whole SR&ED process including communication with the CRA on their behalf. We have submitted numerous SR&ED applications for our corporate clients with a 100% success rate. Our team of engineers and accounting professionals has over 100 years of combined SR&ED experience.
Your name is CalgarySRED. Does this mean you only help companies in Calgary or Alberta only?
We proudly serve businesses all over Canada (not just Alberta and BC).
Is this a cash grant or a tax credit from the Government?
Our clients are receiving cash/money from the Government. This is a cash grant of at least 41% of the amount you have spent on INNOVATION, R&D, PROTOTYPING, TESTING, DEVELOPING/IMPROVING TECHNOLOGY, DEVELOPING/IMPROVING PRODUCTS OR SERVICES. The only time it is a partial tax credit is if your shares are listed on a stock market, or if your net revenues exceed the CRA maximum limit.
How can you get the money?
The SR&ED program is not a grant (for future expenses), it is a refund paid to you by the Government of Canada for your previous actual costs incurred during R&D activities (new product, new process development, etc., even if you tried and failed). We oversee both technical and accounting side of your claim and do all paperwork for you.
For what period can you claim a refund?
We have an 18-month period from company’s financial year-end to claim SR&ED expenses on your behalf. We are currently processing claims with the fiscal year-end of December 31, 2014 (till the end of this June). Most of our clients claim R&D expenses on a year-by-year basis because SR&ED refund helps them plan for future R&D activities.
How do you pay us?
We are compensated on a success-only basis. We do not charge any money upfront. If you are not paid by the government, you owe us nothing. We charge 20% of what we get you from Alberta and Federal Government after you receive actual SR&ED refund cheque. Your investment is only limited by the time your technical and accounting personnel spend with our specialists discussing the nature of your R&D and related eligible expenses. We have done this many times, so our process is streamlined and efficient and won’t take too much of your time.
What do we claim?
Main expenses that we usually claim are salaries and wages (T4; dividends are not claimable), overhead, materials used, and Canadian subcontractors paid (contracted R&D).
 How long does it take?
Time-wise, it will take us about a month to gather all necessary technical and accounting information for your claim. CRA strives to process SR&ED claims within 90 days, meaning the whole process will take about 4 months. It also depends on your willingness to supply us with information on technical and accounting sides of your claim.
Will my sensitive business information remain confidential?
We always sign your or our version of an NDA (non-disclosure agreement) and keep your information strictly confidential.
Do you know a Canadian company that might benefit from our SR&ED service?
Do you know a Canadian company that is doing INNOVATION, R&D, PROTOTYPING, TESTING, DEVELOPING/IMPROVING TECHNOLOGY, DEVELOPING/IMPROVING PRODUCTS OR SERVICES? If so, CalgarySRED has a compensated referral partner program that we would like to discuss with you. Call now 587.205.9495 or email sales@calgarysred.com.