How to claim your Scientific Research & Experimental Development (SR&ED) tax incentives the right way

No more estimates, guesswork, and uncertainties about «who did what and what was done».

Acute360 is the efficient way to manage all your SR&ED/R&D projects and easily identify and qualify eligible SR&ED activities and track and document them on a daily, weekly or monthly basis.

Acute360 promotes sensible assignment of project resources & management roles. The architecture (task tree) and flexibility of Acute360 iterative approach makes it an adaptive project management software that allows it to modify its approach so as to manage many types of projects that encompasses R&D.

Each team member can enter on the spot the acquired results of a project’s activity/iteration through Acute360’s mobile app. They can upload documents & pictures directly to MyTasklogs (personal work journal) write or verbally (speech to text) record the results and the time spent on a project’s activity/iteration.

Acute360 provides up-to-date information on costs, hours, tax credits earned, etc. All the reports and the documentation to back-up your SR&ED claim are generated by Acute360.

Acute360.com is an iterative project management platform that manages R&D projects and tasks based on the concepts of the Scientific Method, Knowledge Management and Thinking Collaboratively. It provides an agile and consistent methodology for managing R&D projects the right way.

SR&ED in Canada
In Canada the Canadian Revenue Agency (CRA) is increasing their audit and scrutiny of SR&ED tax credit claims and is requiring more precise technical and financial documentation.

The method that the CRA uses to establish that your project is eligible for a SR&ED tax incentive involves answering yes to the following five questions:

  1. Was there a scientific or a technological uncertainty?
  2. Did the effort involve formulating hypotheses specifically aimed at reducing or eliminating that uncertainty?
  3. Was the overall approach adopted consistent with a systematic investigation or search, including formulating and testing the hypotheses by means of experiment or analysis?
  4. Was the overall approach undertaken for the purpose of achieving a scientific or a technological advancement?
  5. Was a record of the hypotheses tested and the results kept as the work progressed?

Go to:  https://www.acute360.com/partnership to become a Consulting Partner:
    -Consulting partners can guide their clients in deploying Acute360 and coach them on the particularities of iterative project management.
    -Partners can follow their clients’ progress through a partner’s dashboard and assist their clients online in executing & managing their R&D projects. 

Get started now with a free 30-day trial.