To qualify for SR&ED tax credits, you must show that you attempted to advance technology, you faced challenges along the way, and you either achieved your desired outcome, or you didn’t (don’t worry, this is okay too).
The critical step you must take during this testing phase is to document all the challenges you come up against.
Documentation is extremely important so that you can support your claim, regardless of its size. Document your progress, highlight your challenges, and prove that you and your team went through a systematic process to overcome those challenges.
We break down the SR&ED documentation best practices and common pitfalls to avoid to maximize your claim size and access to funding.
