How we helped a manufacturing client secure an additional $651,000 in SR&ED tax credits after having previously claimed only $125,000

Client Background

Our client is a Canadian intelligent food cutting machine manufacturer with 80 employees. They had been claiming SR&ED credits but were not maximizing their returns on available grants and tax credits.

Client Challenges

• Limited knowledge of available financial incentives
• Lack of business processes to address incentives
• Lack of time and expertise
• Had been claiming a total of $125K in SR&ED credits

Solution

First we performed an audit of the current credits they were claiming and uncovered 6 missed opportunities. Then we assisted the client in preparing the applications for the uncovered subsidies and tax credits.

Results Achieved

$250,000 ANNUAL

Unclaimed eligible expenses that doubled previous SR&ED tax credit claims.

$100,000 ANNUAL

Unclaimed PAMT tax credit $8700 per skilled trade employee.

$250,000

Unclaimed Exportation Subsidy for tradeshow and other related expenses.

$50,000

Grant towards ERP system implementation, and staff training.

$50,000

Wage subsidy towards the hiring of a senior executive to establish a new HR department.

$76,000

Wage subsidy for the hiring of four permanent residents (immigrants)

Summary

We identified, prepared and claimed the subsidies and tax credits available for our client yielding a 520.8% increase in their finances.

Our Expertise

We specialize in helping Canadian companies maximize their returns from available tax credits and grants.

Looking for help with SR&ED Grants?

Contact us for a consultation and audit of your grants and tax credits business processes and we’ll help you maximize your returns.

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