Tax Credit Claims
Discover government tax credit programs that can benefit your business
Receiving substantial cash refunds or tax credits from the government can provide the stimulus you need to bring your company to the next level. Even so, many organizations that are eligible for thousands of dollars in tax credits aren’t applying for them – because they simply aren’t aware that they qualify.
We’ve listed below some information on a few major tax credits that many small and mid-size businesses should know about:
Scientific Research & Experimental Development (SR&ED) Tax Credits:
This is the largest yet most underutilized tax incentive plan. If you have invested in innovation by designing new or improved products, processes, custom equipment, or software you may be eligible to benefit from this tax credit. Other eligible expenses under the SR&ED tax credit program include wages, materials, sub-contractors, and overhead costs.
Ontario Interactive Digital Media Tax Credits (OIDMTC):
OIDMTC is a refundable tax credit available to eligible Ontario companies across all industries that have created an interactive digital media product whose primary purpose is to educate or entertain.
Talk to us to find out what tax credits are available to your business.