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The Canadian Scientific Research and Experimental Development Tax Incentive Program (SR&ED or SRED) provides support in the form of tax credits and/or refunds, to corporations, partnerships or individuals who conduct scientific research or experimental development in Canada.
Industrial tax incentives in Canada have been in place since at least 1944. A 1989 report prepared by Odette Madore, Govt of Canada Economics Division, summarizes the history of R&D tax policy.
- 1944-1986 - traditional tax deductions for R&D, introduced R&D tax credits,
- 1987-1993 - mitigated abuses and simplified administration
- 1994–present - clarified definition of experimental development, broadened eligibility re Qualified Small Businesses, allowed proxy calculation for overhead, conducted major review in 1998, simplified forms, conducted major review in 2010
- Oct 2011 The Canadian government commissioned an expert panel to conduct a comprehensive Review of Federal Support to Research and Development.
The SR&ED program is intended to encourage businesses of all sizes, particularly small to medium and start-up firms, to conduct research and development (R&D) that will lead to new, improved, or technologically advanced products, processes, devices, and materials. The Canadian SR&ED tax incentive is the government's largest single support program for R&D. Canada has one of the more generous R&D programs among OECD countries. "Each year the SR&ED program provides over $4 billion in investment tax credits (ITCs) to over 18,000 claimants. Of these, about 75% are small businesses." (CRA RC4472)
SR&ED expenditures are deducted as business expenses, and may also qualify for investment tax credits that are received in the form of a reduction in income taxes payable, cash refunds, or both. Qualifying expenditures may include wages, materials, equipment leases, overhead that is directly related to R&D, and eligible work by contractors. The following activities constitute SR&ED:
- Experimental development - technological advancement
- Applied research - advancement of knowledge for a practical purpose
- Basic research - advancement of knowledge for its own sake
- Eligible support work: engineering, design, operations research, mathematical analysis, computer programming, data collection, testing and psychological research
The following activities are not eligible for the SR&ED program: marketing & sales, routine testing, research in social sciences or humanities, commercial production, style changes, routine data collection, petroleum or natural gas exploration/drilling.
In order to claim such expenditures, an assessment on scientific or technological eligibility of the claimed activities needs to be performed, according to three criteria:
- Scientific or technological advancement: The search carried out in the experimental development activity must generate information that advances your understanding of the underlying technologies. In a business context, this means that when a new or improved material, device, product or process is created, it must embody a technological advancement in order to be eligible. In other words the work must attempt to increase the technology base or level from where it was at the beginning of the project.
- Scientific or technological uncertainty: Technological obstacles / uncertainties are the technological problems or unknowns that cannot be overcome by applying the techniques, procedures and data that are generally accessible to competent professionals in the field.
- Scientific and technical content: A systematic investigation entails going from identification and articulation of the scientific or technological obstacles/uncertainties, hypothesis formulation, through testing by experimentation or analysis, to the statement of logical conclusions. In a business context, this requires that the objectives of the scientific research or experimental development work must be clearly stated at an early stage in the evolution of the project, and the method of addressing the scientific or technological obstacle/uncertainty by experimentation or analysis must be clearly set out.
The Department of Finance is responsible for the legislation that governs the SR&ED program. The Income Tax Act defines SR&ED. The Canada Revenue Agency (CRA) is responsible for its administration. The CRA Information Circular 86-4R3 is a key document that provides technical guidelines to clarify and interpret the language in the tax act. CRA Interpretation Bulletin IT-151-R4 is a key document that explains SR&ED expenditures.
Investment Tax Credit 
- Canadian-controlled private corporation (CCPC): the ITC is 35% of the first $3 million in qualified expenditures, and 20% on any excess amount.
- Other Canadian corporations, proprietorships, partnerships, and trusts: the ITC is 20% of all qualified expenditures.
In addition, each province or territory may also provide provincial or territorial tax credits (subject to a cap) to qualifying corporations carrying out SR&ED in their respective province or territory:
|Newfoundland and Labrador||15%|
|Prince Edward Island|
Provinces and territories may offer alternative or supplemental investment programs. Examples:
- Alberta offers funding through its science and research investments grant program.
- Prince Edward Island offers grants (non-repayable contributions) under various funds.
- Northwest Territorie s and Nunavut provide a 15% tax credit under the Risk Capital Investment Tax Credits Act.
Changes to Form T661 
For tax years ending after 31 December 2008, CRA will only accept the new 2008 version of the Form T661. Significant changes include modifications to the “Part 2 project information” section that details the scientific and technological aspects of the SR&ED projects claimed, which has been restructured from free-flowing questions to a direct question format.
In 2010, the CRA made minor revisions to Form T661 (10), to clarify some of the instructions and move the expenditure summaries from T661 Part 2 to a new summary section, T661 Part 6.
Eligibility Self-Assessment Tool (ESAT) 
The ESAT is CRA’s web-based tool that is used to determine through a series of concise questions if work performed has a likelihood of meeting SR&ED requirements for funding. The ESAT is mainly intended for potential claimants in the small to medium business sector, and for those who are new to the SR&ED program.
Creation of an SRED Association 
A Canadian SRED Association is currently in the works with the goal of representing and serving a network of professionals who prepare technical and financial SR&ED claims, as well as the companies conducting Research and Development. Led by a board of directors that includes some of the most respected and experienced individuals currently working in the SR&ED field, the Association will provide an inclusive and collaborative forum to promote knowledge and understanding of issues and procedures relating to SR&ED. The Association will strive to provide leadership by developing a voluntary, non-governmental professional accreditation for claim preparers, as well as regular education seminars to complement the CRA SR&ED information sessions. The Association plans to advocate on behalf of its members for policy and program efficiency at the federal and provincial level.
Financing of tax credits 
Since the SR&ED program is a tax credit administered by the Canadian government, several firms provide financing to claimants, that is secured by anticipated receipt of their tax credits, for both pre-file and post-file claims. This allows a company expecting a claim to receive funds immediately, rather than the possible 120, 240 or 365 day processing times outlined by the CRA.
See also 
- Industrial Research Assistance Program
- Western Economic Diversification Canada
- Research & Experimentation Tax Credit
- "Scientific Research and Experimental Development Tax Policy". Retrieved 2012-01-04.
- "Tax Incentives for Research and Development: Trends and Issues, published by the Organisation for Economic Co-operation and Development (OECD)". Retrieved 2012-01-04.
- "RC4472 - Overview of the Scientific Research and Experimental Development (SR&ED) Tax Incentive Program". Retrieved 2009-07-08.
- "IC86-4R3, Scientific Research and Experimental Development Information Circular". 1994-05-24. Retrieved 2007-08-14.
- "What is the SR&ED Program?". Canada Government.
- "Alberta Scientific Research and Experimental Development Tax Credit". Retrieved 2009-03-02.
- "Scientific Research and Experimental Development Tax Credit". Archived from the original on 2006-07-14. Retrieved 2006-09-03.
- "Finance - Scientific Research and Experimental Development". Retrieved 2006-09-03.[dead link]
- "Ontario Innovation Tax Credit". Retrieved 2009-03-16.
- "Tax Assistance for Scientific Research and Experimental Development". Retrieved 2009-03-16.[dead link]
- "Research and Development Tax Credit". Retrieved 2006-09-03.
- "Alberta Science and Research Investments Program (ASRIP)". Retrieved 2006-09-03.
- "TechPEI - Research and Development Initiative". Retrieved 2006-09-03.
- Scientific Research and Experimental Development Tax Incentive Program
- Income Tax Act
- CRA Information for First-Time Claimants
- CRA Form T661
- CRA Sample Completed Form T661
- CRA T4088: Guide to Form T661
- CRA Field of science or technology codes for Form T661
- CRA Sector-specific guides
- Impact of the 2012 Federal Budget on SR&ED, Innovation Funding and Startups
- Impact of the 2013 Federal Budget on SR&ED, Innovation Funding and Startups