At Velocity Financial Group, we make the SR&ED process seamless by identifying eligible activities and maximizing your claim potential. With extensive industry expertise, we help you fully realize the value of your innovation while driving greater profitability for your business.
The Scientific Research & Experimental Development (SR&ED) program is a federal initiative designed to incentivize Canadian businesses with tax credits to undertake qualifying research and development activities. These credits can be refundable for small businesses, providing direct cash back, or non-refundable for larger corporations, reducing tax liabilities.
At Velocity, we offer an all-organized, end-to-end service to help businesses across industries—including technology, manufacturing, biotechnology, engineering, clean energy, agriculture, construction, healthcare, food processing, software development, and telecommunications—maximize their SR&ED claims. We take care of everything, from identifying and documenting all eligible R&D expenses—such as employee wages, materials, subcontractor costs, and other qualifying expenditures—to preparing and submitting your claim.
With extensive industry expertise, we will help you fully realize the value of your innovation while driving greater profitability for your business.
Basic Research can be described as a scientific investigation carried out to expand knowledge without a specific practical application in mind.
Example: Performing theoretical analyses to explore the properties of novel materials.
Applied Research is work undertaken to advance scientific knowledge with a specific practical application in view.
Example: Developing a new drug based on scientific discoveries about a disease.
Experimental Development is the work undertaken to achieve technological advancement for the purpose of creating new, or improving existing, materials, devices, products, or processes.
Example: Developing a new manufacturing process to increase production efficiency.
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