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After you incur expenses on qualifying SR&ED activities, the SR&ED claim is filed within 18 months after your fiscal year-end.

These claims must contain all necessary information and are typically filed at the same time as your company's annual income tax returns. The SR&ED claim is optimally be filed within a few months of year-end. We have filed SR&ED claims for some within mere weeks of their year ends.

NOTE:  Your SR&ED tax benefits will be lost forever if you file more than 18 months after year-end!

Carefully tracking your SR&ED activities and expenditures is essential in preparing a claim. Canada Revenue Agency (CRA) requires financial information to be broken down by project and cost category.

In addition, activities must be divided into separate projects, and each project requires a separate technical report.

Forms required by CRA when filing your claim:

• Technical summaries
• Form T661
• Schedule 31
• Schedule 32

When do I receive my SR&ED benefits?

The objective of the SR&ED program is to deliver the SR&ED tax credit in a timely, consistent, and predictable manner, while encouraging research and development (R&D) performers to assess their own claims in compliance with tax laws, policies, and procedures.

The CRA has the following service standards for processing SR&ED claims:

• refundable claims - 120 calendar days from receipt of a complete claim
• non-refundable claims - 365 calendar days from receipt of a complete claim
• claimant-requested adjustments to refundable claims - 240 calendar days from receipt of a complete claim
• claimant-requested adjustments to non-refundable claims - 365 calendar days from receipt of a complete claim

The SR&ED program is committed to meeting these service standards at least 90% of the time.

Success Rates Per CRA

Type of Claim	Apr. 1/08 - Mar. 31/09
Refundable Claims 120 Days	96%
Non-refundable Claims 365 Days	97%
Refundable Claimant-adjusted Claims 240 days	97%
Non-refundable Claimant-adjusted Claims 365 Days	95%