SRED Details


What costs are refundable in the program?

Time spent on the project(s) by qualified personnel often is the largest eligible expense. This includes all owners, employees, and contractors engaged in the experimental development. Other claimable costs include all materials consumed or transformed, equipment, and any other direct cost(s). In addition, work with respect to engineering, design, operations research, mathematical analysis, computer programming, testing, psychological research, and data collection are all considered SR&ED expenditures if they are directly done in support of the project being undertaken.

What are the components of the refund submission?

To successfully declare eligible expenses Motion Unlimited must complete forms T661, Claim for Scientific Research and Experimental Development Expenditures Carried on in Canada, and either form T2 SCH 31, Investment Tax Credit – Corporations or form T2038, Investment Tax Credits – Individuals. Included in the submission is both a technical report specifying developmental aspects, and a financial report detailing all expenditures including payroll. Oftentimes, business owners or employees lack the SR&ED expertise to prepare the technical report, the most crucial element of successful refunds. The monetary result of your claim is dependant on the quality of this report, and Motion Unlimited has both the technological knowledge and SR&ED expertise to ensure it is executed both properly and professionally.

How can one be made more comfortable with the process?

We can, and often do, work in conjunction with your accounting department to make you feel comfortable with the process. We do not submit anything without your approval as we want you to feel in control!

Below you can download relevant PDF files, which may be needed during the submission process:

  1. SR&ED Form
  2. Guide to SR&ED Form
  3. Example of a SR&ED Form
  4. Investment Tax Credit – Corporations
  5. Investment Tax Credit (Individuals)