Scientific Research & Experimental Development (SR&ED) Tax Credits
Federal - Canada Revenue Agency · 35% refundable credit; $6M expenditure limit (tax years beginning after 15 Dec 2024)
Federal investment tax credit for eligible SR&ED work in Canada. For tax years beginning after 15 December 2024 the enhanced 35% refundable rate applies up to a $6 million expenditure limit (was $3 million). Published amount: 35% refundable credit; $6M expenditure limit (tax years beginning after 15 Dec 2024). Best for: Existing businesses conducting eligible R&D in Canada. This is a tax credit, not a grant. Administered by Canada Revenue Agency (CRA). Official source: Scientific Research & Experimental Development (SR&ED) Tax Credits.
Criteria
| Who qualifies |
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|---|---|
| Who does not |
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| Amount | 35% refundable credit; $6M expenditure limit (tax years beginning after 15 Dec 2024) |
| Rate / repayable | N/A - Tax credit. Repayable: no (per catalog). |
| What it funds | Federal investment tax credit for eligible SR&ED work in Canada. For tax years beginning after 15 December 2024 the enhanced 35% refundable rate applies up to a $6 million expenditure limit (was $3 million). Highlights: 35% enhanced refundable rate; $6M expenditure limit after 15 Dec 2024; Claim with the T2 / T661; Not a grant. |
| Intake window | See the official page |
| Region | Canada-wide, including Markham and York Region, where the published criteria are met. |
| Administrator | Canada Revenue Agency (CRA) (Federal - Canada Revenue Agency) |
Published highlights
- 35% enhanced refundable rate
- $6M expenditure limit after 15 Dec 2024
- Claim with the T2 / T661
- Not a grant
FAQ
Is this a grant?
No. Scientific Research & Experimental Development (SR&ED) Tax Credits is a tax credit (35% refundable credit; $6M expenditure limit (tax years beginning after 15 Dec 2024)), claimed through the tax return — not a grant cheque.
Who qualifies in Markham?
Canada-wide, including Markham and York Region, where the published criteria are met. Qualifies where the published criteria fit: existing businesses; Canadian citizens, permanent residents; for-profit; requires R&D / innovation activity; available across Canada; existing businesses conducting eligible R&D in Canada.
Is there a minimum years in business or employee count?
No minimum years in business in this catalog; no minimum employee count in this catalog. See the official page if a rule is not listed here.
Can newcomers or work-permit holders apply?
The catalog lists Canadian citizens and permanent residents only — work-permit is not in the eligibility list. Do not assume a work-permit newcomer qualifies.
Related programs
Eligibility is determined by the government administrator (Canada Revenue Agency (CRA)), not Markham Office. Amounts, rates, and windows change. Verify every detail on the official page before you apply. Markham Office is an assessment helper only. As of September 2026.