Maxim Innovation

As defined by the CRA: “scientific or technological advancement is the generation or discovery of knowledge that advances the understanding of science or technology.”

If you’re conducting SR&ED with this in mind, you need to check out our latest blog! 👇
https://loom.ly/xPaiZ20

The steps are:

Formulating one or more hypotheses
Planning and executing testing
Developing logical conclusions bases on the results

Learn more about each in our latest blog! 👇
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Can the objective be achieved at all or what alternatives, paths, routes, approaches, equipment configuration, system architectures, or circuit techniques will enable the goals to be achieved?

Whether scientific or technological, there needs to be uncertainty.

Learn more about each in our latest blog 👇
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Our assessment is fast and easy, so you don’t have to wonder if you qualify!

Find it on our website 👇
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Scratch that. Bookkeeping is incredibly important!

You need to keep a thorough log of evidence that is generated as the work progresses.

Learn more about each in our latest blog 👇
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When all is said and done, you need to develop a logical concussion based on the results or finding of your work, experiments, or analysis.

Learn more about each in our latest blog! 👇
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During the course of your work, the idea behind your project may evolve and change over time as a direct result of testing.

This is perfectly acceptable!

Learn more about each in our latest blog 👇
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If your acquired knowledge through:

Training
On-the-job learning
Hiring expert employees
And more!

If you’re conducting SR&ED with this in mind, you need to check out our latest blog! 👇
https://loom.ly/xPaiZ20

This means generating an idea consistent with known facts, which serves as a starting point for further investigation.

It can either be a possible solution to a problem, or a proposed method or approach, as long as it is specifically aimed at reducing uncertainty.

Learn more about each in our latest blog! 👇
https://loom.ly/xPaiZ20

The definition of SR&ED clearly states that the purpose of the work must be for achieving scientific or technological advancement.

As long as you have advanced the understanding of science or technology, you can make a claim.

Learn more about each in our latest blog! 👇
https://loom.ly/xPaiZ20

Including:
Market Research or Sales Promotion
Style changes
Routine data collection
And more!

Learn more about each in our latest blog 👇
https://loom.ly/xPaiZ20

The CRA defines trial and error as “executing a series of tests in no particular order and not part of a systematic plan.”

Accidental discovery = No SR&ED claim!

If you’re conducting SR&ED, you need to check out our latest blog 👇
https://loom.ly/xPaiZ20

They are:

Basic Research
Applied Research
Experimental Development

Learn more about each in our latest blog! 👇
https://loom.ly/xPaiZ20

Industries we’ve worked with:

Manufacturing
Information Technology
Software Development
Food Processing
Construction/Building Materials
Medical/Dental
Telecommunications

Any SR&ED questions you have, We’re here to help! 👇
https://loom.ly/JP1upV0

Other mistakes include no statements clarifying knowledge base, a focus on product or commercial requirements, and more.

Need some help? Maxim is here for you. 🤝

We hear about so many business who think they won’t qualify.

Don’t leave money on the table! 💰

Here’s to another 10 years! 🙏

Not necessarily! Many you might not consider, like agriculture, can also conduct SR&ED.

And that comes will all the tax refunds as well! 💰

Yes! It is considered income earned the year after it is received. 💰

However, things can get a little complicated, so an accounted well versed in SR&ED will definitely help.

The generation or discovery of knowledge that advances the understanding of science or technology. As long as it keeps with the methodology of systematic investigation.

Need some help? Maxim is here for you. 🤝

In most cases, new company controllers may not carry forward any previous years’ pooled amounts.

However, exceptions may apply.

Need some help? Maxim is here for you. 🤝

Programs vary across the country, but in Ontario, there is no maximum credit.

Need some help? Maxim is here for you. 🤝

Keeping up-to-date logs of the work is required for a “systematic investigation”.

Need some help? Maxim is here for you. 🤝

The current guidelines state: “Work must be conducted for the advancement of scientific knowledge or for the purpose of achieving technological advancement.”

Need some help? Maxim is here for you. 🤝

The current guidelines state: “Work must be systematic investigation or search that is carried out in a field of science or technology by means of experiment or analysis.”

Need some help? Maxim is here for you. 🤝

The current guidelines state: “Generating an idea consistent with known facts, which serves as a starting point for further investigation…”

Need some help? Maxim is here for you. 🤝

This is the starting point that SR&ED work can take place!

Need some help? Maxim is here for you. 🤝

There are 5 questions the SR&ED program uses to determine eligibility.

Stay tuned as we share them all!

Stay safe and watch out for ghosts!


&ED

Make sure you make your claim correctly. You don’t want to miss out on your piece of the $3 billion pie! 💸

Learn more on our website or give us a call!


&ED