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Get up to
66% off
your R&D tech spend.
Islands is a Scientific Research and Experimental Development (SR&ED) partner helping businesses across Canada get up to 66% back in Investment Tax Credits.
Sponsored by the Government of Canada.
Reduce your R&D costs by up to 66% on employee expenses and 33% on total R&D spend
Eligible projects include...
Research & build new AI models
Build a new AI-native product
Full-stack software development
Data engineering development
Optimize DevOps or cloud infra
Create your own LLM or predictive model
~30%
Off your development and R&D costs while working with us each year.
~60%
Of your team's salaries can be claimed back each year while involved.
$50M
As a lifetime rebate every company can claim in SR&ED expenses.
Unsure what to build?
Book a free consultation to plan your next steps, confirm eligibility, unlock exclusive perks, and accelerate your business growth.
Disclaimer: Islands is not an official agency of the Government of Canada or a registered federal arm in any way.
Who qualifies?
SR&ED is available to Canadian companies for a lifetime exemption up to 50M CAD.
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Based in Canada
You must be Canadian business incorporated federally or provincially in Canada.
Not based in Canada? Reach out.
Building software
You must be building software in Canada. Team member can be full-time or on contract.
At least 1 employee
You must have at least 1 full-time employee on payroll to qualify for all benefits.
How to apply
We manage the entire process for you, working as your Finance and Technical Consultants to ensure you get the most out of your SR&ED return.
Step 2
Meet your consultant
We’ll introduce you to your dedicated SR&ED consultant and begin documenting your project. Our team prepares all required technical and financial documentation to support and file your claim.
Step 3
Submission and approval
SR&ED claims are filed with your fiscal year and can be retroactively submitted for up to two years on your initial claim. Receive pre-approval within weeks and gain early visibility into the expected refund amount.
Step 4
Collect funds
Receive your SR&ED refund directly in your bank account. The timing depends on when your claim is submitted and processed.
Get started with SR&ED
Tell us about your company and one of our consultants will reach out to kickstart your SR&ED application and help you maximize the program’s value.
Message sent!
at your pace and on your terms.
Frequently asked questions
SR&ED stands for Scientific Research and Experimental Development. It is a tax incentive program administered by the Canadian government to encourage businesses to engage in research and development activities that lead to innovation and technological advancement. If you're working with us, and you're a Canadian company, you're eligible for SR&ED.
Canadian businesses that conduct eligible research and development activities are typically eligible for SR&ED tax credits. This includes corporations, partnerships, individuals, and trusts that incur expenses related to scientific research and experimental development in Canada.
Eligible activities for SR&ED tax credits include experimental development, applied research, and basic research aimed at advancing scientific knowledge or technological innovation. These activities must involve systematic investigation or experimentation and aim to achieve technological advancement.
To claim SR&ED tax credits, businesses need to file a claim with the Canada Revenue Agency (CRA) along with supporting documentation, including project descriptions, technical reports, and financial records. We work with partners that handle the entire process for you, so you don't have to worry.
Eligible expenses for SR&ED tax credits include wages, materials, subcontractor costs (like working with us on a project!), and overhead expenses directly related to eligible research and development activities. These expenses must be reasonable and directly attributable to SR&ED work.
The SR&ED program offers several benefits to businesses, including tax incentives in the form of investment tax credits (ITCs), cash refunds for eligible expenditures. If you're already engaged in some kind of software development, chances are you are eligible for SR&ED tax credits.
The SR&ED program undergoes periodic updates and changes. It's important to stay informed about any recent developments, including legislative changes, policy updates, or new guidelines issued by the CRA. Checking the CRA website or consulting with a tax professional can provide up-to-date information on the SR&ED program.
You’re all set!
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