DIY SR&ED: Money-saver or potential disaster?
Preparing an SR&ED tax incentive claim without the assistance of a consultant may appeal to many claimants. There are many RTAs (Research and Technology Advisors at the CRA) that will encourage “do-it-yourself” (DIY) SR&ED claims.
Consultant-Free SR&ED: The Benefits
- More money for innovation
- Everyone gets to know SR&ED
- The CRA wants you to apply (on your own)
Consultant-Free SR&ED: The Drawbacks
- Unique Skills Required
- You must provide evidence, however, the CRA won’t define what’s acceptable in advance
- Doing it yourself means you’re on your own if you’re reviewed
Each of the items listed above has more details and a breakdown on SREDucation.ca. Here is a link to the blog post in its entirety:
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As always, if it’s SR&ED Financing you’re looking for – Contact us for more details on non-dilutive venture debt, SR&ED Financing, and tax credit consulting services. Venbridge’s services allow you to maximize your government tax incentives, better manage cash flow, and invest more in the areas you need.