Tax Credits and Innovation Grants
The federal and provincial governments are supporting innovation with generous tax incentives and grants for businesses.
Do you take advantage of these opportunities?
Many companies qualify but do not claim these benefits. They do not realize that some of their research and development (R & D) expenditures could be eligible for a combined federal and provincial reimbursement of up to 73% of accepted salaries. Are you one of those companies that let go these net benefits? Do your competitors capitalize on this opportunity? Why not you?
Few companies perform scientific research, but many experimentally develop their new products and processes. Here are some potential opportunities, see the details in the following pages.
R & D Action knows these and other programs. Contact us, we simplify your procedures.
Other credits and grants for innovative companies
Strategic Innovation Fund
The Strategic Innovation Fund (SIF) is a program that was launched in 2017. It provides repayable and non-repayable contributions to support four distinct Streams of activities:
- Encourage research and development (R&D) that will accelerate technology transfer and commercialization of innovative products, processes and services;
- Facilitate the growth and expansion of firms in Canada;
- Attract and retain large scale investments to Canada; and
- Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector(non-repayable).
The program is available to firms of all sizes across all of Canada’s industrial and technology sectors.
Tax holiday for foreign researchers
The Government of Québec can provide financial assistance (in French) to recruit researchers abroad. If you are doing scientific research and experimental development (SR & ED), you could take advantage of this tax measure to facilitate the recruitment of researchers abroad to work on your innovation project.
Mitacs - Elevate
You could get the help of a doctoral intern to work on your research projects for up to two years as part of this federal shared-cost program.
Mitacs - Accelerate
Want to enrich your R & D potential? If so, recruit a graduate student or postdoctoral fellow to conduct research on your technology project. See how your company could benefit from specialized expertise by recruiting a postgraduate student or postdoctoral fellow to research your technology project for 4 months or more under this federal shared-cost program.
R & D Action knows these and many other programs. Contact us, we simplify your procedures.