How to Claim

There are two options for you to claim SR&ED expenses:

Traditional Method: Claim all your SR&ED expenditures in the year, and identify your overhead expenses. This method requires meticulous records and documentation, which we can help you with!

Proxy Method: Calculate a notional amount for your expenditures, known as the prescribed proxy amount. Instead of providing every record you have, this method approximates the following expenses based on a calculation:

  • Office supplies
  • Utilities
  • Salaries and wages
  • Contract work
  • Travel and training
  • Property taxes
  • Employer benefits
  • Maintenance of facilities and equipment

It’s important to assess your company’s finances and characteristics before deciding on a method, since they differ in their treatment of expenditures. We can help you assess your situation adequately and ensure you pick the most effective method of claiming.

Individuals can use the following tax forms to claim SR&ED expenses:

Corporations can use the following tax forms to claim SR&ED expenses:

Seem intimidating? Don’t worry. Requiti’s trained consultants will help you fill in these forms as accurately as possible.

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Our team is ready to show how we can help your business get the tax credits it deserves.