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Scientific Research and Experimental Development (SR&ED) Tax Credit for the Cannabis Industry
You can recover up to 66% of direct labour costs (for Canadian Controlled Private Companies – CCPCs).
38%SALARIES
MATERIALS
CONTRACTORS
66%
25%
20%
Small Company (CCPC)(refundable)
Large or Public Company(non-refundable)
Eligible R&D
Attempt at Technological Advancement
Technological Uncertainty
Are you Eligible?
About MNPMNP is a leading national accounting, tax and business consulting firm in Canada. We proudly serve and respond to the needs of our clients in the public, private and not-for-profit sectors. Through partner-led engagements, we provide a collaborative, cost-effective approach to doing business and personalized strategies to help organizations succeed across the country and around the world.
To maximize your SR&ED investment tax credits, please contact Jay McLean, CPA,CMA, P.Eng. MBA, Partner, National SR&ED Leader, at 519.725.7700 or [email protected]
You likely qualify if you overcame technical uncertainties and advanced basic technology in a systematic way (not via routine engineering or trial and error). For example, you determined the specific combination of micro-nutrients, from thousands of potentials, to develop a new fertilizer blend for growing cannabis sativa in soil.
MNP Can HelpYour MNP advisor works on your behalf to:
• Identify eligible R&D projects and capture all related costs
• Develop accurate project descriptions
• Defend your claims in any subsequent audits
How Valuable Can SR&ED Be?
Systematic Approach
34%
42%
MNP.ca
0876-20
*Provincial SR&ED tax credits vary by province