Your SR&ED Application is ready to file
- Applications must be filed within 18 months of your fiscal year end
- The application is filed with or by amending the tax return
- Claims take between 4-8 months to process
- A refund cheques is issued for refundable tax credits and a statement of credit balance is issued for non-refundable tax credits
The SR&ED Process – The Claim Process
Your claim is ready to be filed at CRA
Processing times vary:
- 120 days for currently filed tax return;
- 180-240 for claims for prior years.
Will our claim be audited?
There are two types of reviews; science and financial. You may see one or both of the reviewers. Alternatively, your claim may be processed on a desk review.
Proposal letter or final letter will be received from CRA
Confirmation of the amount approved
Notice of Assessment or Reassessment
Within 3-4 weeks of the final letter
Cheques arrive 1-5 days after receiving the Notice of Assessment
We are SR&ED the following services:
- Financial evaluation;
- T2 amendments;
- Schedule preparation;
- Complete claim preparation;
- Audit assistance;
- Process documentation and expenditure tracking
Our fees are hourly, fixed fee, contingency or
a combination of fixed fee and contingency.