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SR&ED (Scientific Research & Experimental Development) is the government program that rewards companies that perform R&D in Canada. The program makes Canada a more economically competitive and technologically advanced nation and it has been in existence since the 80’s. The Canadian incentive program is one of the most generous R&D programs in the world. This is not a grant – if you qualify, you are entitled to this money under the Income Tax Act.
Most pharmaceutical companies qualify for this program. If you answer yes to any of the following questions you could be sitting on an untapped refund.
- Is your pharmaceutical company incorporated?
- Do you develop new pharmaceutical products or medicine?
- Are you involved in Phase I – Phase IV clinical trials?
- Are you a CRO (Contract Research Organization) involved in pharmaceutical trials?
- Do you obtain consent from clinical trial participants?
- Do you follow all formal regulations, requirements relating to the development of medicines or pharmaceutical products?
- Have you acquired an advancement in knowledge in a field of science or medicine?