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SR&ED and the Healthcare Industry


SB Partners Admin on July 11, 2012 in Health Care

No matter what field within the vast healthcare industry you are performing research in, the combined Federal and Provincial government’s Scientific Research & Experimental Development (SR&ED) program can help you fund that research through Investment Tax Credits (ITCs).

Whether you are performing clinical studies, clinical trials, the development of new protocols in either basic or applied research, testing, experimentation, design and manufacturing of new tools, products and processes, can all have your salaries, materials, use of outside contractors/consultants expenditures partially refunded through these tax credits.

Examples of medical and healthcare industry eligible for SR&ED Tax Credits (short list)
• Pharmacy and medicinal chemistry 
• Cardiac and cardiovascular systems
• Orthopaedics
• Dentistry and oral surgery
• Nutrition and dietetics
• Biomaterials (medical implants, devices)
• Veterinary sciences
• Ophthalmology

Examples of Qualifying Activities (short list)
• New procedures/protocols for reduction in pain relief or improvements to patient recovery
• Development of new surgical tools/products/procedures
• Computer software development to enhance existing methodologies

At SB Partners, we recognize the need to ensure available funds are sufficiently reinvested into healthcare industry to assist in furthering research efforts to improve our quality of life..

To this extent, we have launched an initiative to expand our internal expertise in tax recovery for healthcare clients. In addition, we will be announcing fall seminars on how SR&ED can support the healthcare industry with special guest presenters.

If you have any questions, please email me at .(JavaScript must be enabled to view this email address), or call direct Wayne Spencer, SR&ED Manager at (905) 633-6356 or Toll Free at 1-866-823-9990 x6356.