New Brunswick SR&ED

Receive up to 15% in Refundable Tax Credits

Optimize the return on your R&D investment by working with Coincide to support your scientific research and experimental development (SR&ED) tax credit claim in New Brunswick.

in SR&ED Funds Filed & Received for Clients

Client Retention

5-Star Testimonials From A Diverse Portfolio

SR&ED Files Submitted & Approved By CRA

Federal SR&ED Tax Credit Overview

Eligible entities for the Federal SR&ED include Canadian-controlled private corporations (CCPCs), foreign-controlled corporations, other corporations, and individuals, trusts and partners.

The tax credit can be carried back three years or carried forward 20 years.

Federal SR&ED Amount

  • CCPCs can earn 35% of the qualified expenditures.
  • Qualifying corporations that are also excluded corporations can earn an ITC of 35%, with up to 40% being refundable.
  • Other corporations can earn a non-refundable ITC of 15% on qualified SR&ED expenditures.
  • Individuals, certain trusts, and certain partnership partners are eligible for a 15% ITC, up to 40% of which is refundable.

How to Claim Federal SR&ED

Step 01

Prepare your tax return

Step 02

Complete and file T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim with your return

Step 03

Complete and file either T2SCH31 Investment Tax Credit – Corporations or Form T2038-IND Investment Tax Credit (Individuals) with your return

The New Brunswick Research and Development Tax Credit

The New Brunswick SR&ED investment tax credit is a fully refundable tax credit administered by the CRA.

Eligible entities include qualified corporations, including those that are beneficiaries of a trust or members of a partnership, with a permanent establishment in New Brunswick, qualifying for scientific research and experimental development conducted in the province.

SR&ED Amount

A refundable provincial tax credit at 15% of eligible expenses.

Special Conditions

Eligible expenditures for calculating the provincial credit are reduced by any government or non-government assistance received. The provincial credit will decrease the federal pool of deductible SR&ED and qualified SR&ED expenditures.

How to Claim

Complete your tax return

Complete and file T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim with your return

Complete and file T2SCH31 Investment Tax Credit – Corporations with your return

Complete and file T2SCH360 New Brunswick Research and Development Tax Credit

SR&ED Amount

A refundable provincial tax credit at 15% of eligible expenses.

Special Conditions

Eligible expenditures for calculating the provincial credit are reduced by any government or non-government assistance received. The provincial credit will decrease the federal pool of deductible SR&ED and qualified SR&ED expenditures.

How to Claim

Complete your tax return

Complete and file T661 Scientific Research and Experimental Development (SR&ED) Expenditures Claim with your return

Complete and file T2SCH31 Investment Tax Credit – Corporations with your return

Complete and file T2SCH360 New Brunswick Research and Development Tax Credit

Book a Consultation

“Hiring Coincide was one of the best decisions for our company. They take care of us, and we are very pleased with their service. Our claims are always well prepared, accurate, and on-time. They take the time to review the strategy with every claim. Coincide have also been very helpful in dealing with our auditors and tax authorities – allowing us to focus on our business.”

Marwan Jamous President at Strategy Point Innovations

SERVICES

Helping Your Business Maximize the SR&ED Tax Credit in New Brunswick

Coincide offers specialized support tailored to New Brunswick’s SR&ED claims process, from claim preparation to securing financing, ensuring a beneficial outcome for your Canadian-controlled private corporation.

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Claim Submission

Leverage Coincide’s deep understanding of New Brunswick’s SR&ED landscape to help you receive the maximum tax credit amount. Our assistance includes:

  • Identifying and validating eligible expenditures and projects
  • Completing support for audit defence
  • Preparing technical and financial reports
  • Providing training and support on New Brunswick’s SR&ED tax credits
Learn More

Financing Assistance

Following your claim submission, Coincide can help you in securing financing. Our service includes:

  • Collaborating with financial institutions to highlight your project’s eligibility for New Brunswick SR&ED credits
  • Assisting in project verification to enhance funding prospects
  • Facilitating quick access to bridge loans for prompt availability of funds

“A very professional and experienced team who have helped us navigate through the entire SR&ED process. They led all the upstream work required for our submission (technical report write up, financial form completion, periodic follow ups during the year) and also assisted with CRA’s follow up meetings and audits. With the help of Coincide, our SR&ED claims have, so far, been accepted as filed. ”

Patrick Normand Director at VJO Canada

OUR PROCESS

Steps to Getting Your New Brunswick SR&ED Grant With Coincide

01. Book a Consultation

Discuss your project details with our SR&ED specialists to evaluate its eligibility for the New Brunswick SR&ED tax credit. Once we confirm eligible expenses, we will initiate the claim process.

02. We Create a Master Service Agreement

We create a Master Service Agreement detailing our collaboration and the scope of services provided. This agreement clarifies our role and strengthens our commitment to maximizing your New Brunswick SR&ED claim.

03. Put The Claim Together

Our team will thoroughly review your project’s relevant records and data, such as payroll records and purchase receipts. Using this data, we will compile a detailed claim to ensure a smooth filing process.

04. Submit Forms

Coincide will prepare and provide all required documentation to your accountant, adhering to both federal and New Brunswick-specific tax filing guidelines. Your accountant will use these forms, including the T661 form, for corporate filing.

05. Get Financing Support

If you need immediate access to your tax credit, we can coordinate with your financial institution to arrange a bridge loan before the government disburses your SR&ED credit.

06. Receive Your SR&ED Tax Credit

Once approved by the Canada Revenue Agency (CRA), expect to receive your SR&ED tax credit cheque within 60 business days.

Book a Consultation

“Coincide has been our trusted SRED partner for years. The team has always been there to support us with our submissions. For a group of researchers, having someone like Coincide to rely on is key – they worry about the SRED claim which allows us to focus on drug development.”

Sharon Garcia Director at PeriScope Research

WHY CHOOSE US

We “Coincide” Our Business Values With Yours.

Coincide is a leading consulting firm committed to helping small and medium-sized businesses in New Brunswick maximize tax benefits through the New Brunswick Research and Development Tax Credit.

SR&ED Consultants With Exceptional Tax Credit Success

With over 15 years of proven experience in New Brunswick’s SR&ED landscape, we have provided expert support to many businesses across diverse industries. Through knowledgeable and tailored guidance, our team ensures clients maximize their returns on SR&ED claims.

Helping You Maximize Your New Brunswick SR&ED Claim

Our extensive knowledge of SR&ED tax regulations and eligible expenditures in New Brunswick enables us to help you secure the maximum possible tax credit. We follow a thorough and detailed process to ensure each claim is fully optimized, providing the maximum financial benefit for your business.

We Have a Network of Reliable Contacts

We have access to a well-established network of financial and government contacts to guide you throughout your New Brunswick SR&ED claim process. Through proactive support, we boost your chances of successfully securing a refundable tax credit, offering peace of mind and reliable guidance when you need it most.

DO YOU QUALIFY? Start Your New Brunswick SR&ED Tax Credit Journey Today

Book a consultation today and get the most out of the SR&ED tax credit in New Brunswick.

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FREQUENTLY ASKED QUESTIONS

What can be claimed under the New Brunswick Research and Development Tax Credit?

The following are eligible to claim for the New Brunswick SR&ED:

  • Experimental development
  • Applied research
  • Basic research
  • Support work
How long does it take to receive the New Brunswick SR&ED tax credit once my claim is submitted?

The processing time may vary depending on the complexity of your claim and the CRA’s workload. In general, after submitting your SR&ED claim, it typically takes around 60 business days for the Canada Revenue Agency to process the claim and issue the New Brunswick SR&ED tax credit.

Can the New Brunswick SR&ED tax credit be carried back or carried forward?

Yes, non-refundable tax credits can be carried back three years and forward seven years.