The Pre-claim approval process is a new optional process that helps eligible small and medium businesses find out if their projects qualify for SR&ED tax incentives before they start work or incur any costs. By submitting a request, businesses can receive a determination from the CRA within eight weeks, making it easier to plan with confidence.
How your business can benefit
If you are eligible and choose to use the Pre-claim approval process, your business can benefit from:
1) early certainty by getting technical approval of planned SR&ED projects before you start work or incur costs
2) a streamlined application process by completing the application in less than a day using existing documentation
3) a direct relationship with the CRA by meeting with an SR&ED specialist who will get to know you and your work
Click here to learn more.
Information source from Canada Revenue Agency (CRA)