Get up to 66% off your R&D Tech Spend with us!
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 🇨🇦.
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Up to 66% off your Full-time employees who's costs are dedicated to R&D
Up to 33% off your R&D spend with us
Eligible SR&ED projects include...
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Research & build new AI models
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Build a new AI-Native product
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Full-stack software or data engineering development
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Optimize your DevOps or cloud infrastructure
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Create your own LLM or predictive model from scratch
Your Software R&D starts here
Who qualifies?
SR&ED is available to Canadian companies for a lifetime exemption up to 50M CAD
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Canadian business
You must be Canadian business incorporated federally or provincially in Canada.
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Development
You must be building software in Canada. Team member can be Full-Time or on Contract.
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Company size
You must have at least 1 Full-Time Employee on payroll.
How to apply
Applying for SR&ED is simple. 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.
Book a Call
Schedule a consultation call with us.
Start your project
Be an existing client or new client with us building innovative software.
Introduction to SR&ED Consultant
We'll introduce you to your SR&ED consultant and start the process of documenting the project.
Technical Documentation
We prepare all of the documentation  required including Technical and Financial to file the Claim.
Submission
SR&ED Claimed are submitted with your fiscal year and can be rolled back up to 2 years for the initial claim.
Approval
Get pre-approved in weeks, and know approximately how much money to expect.
Collect funds
Watch the money roll into your bank account. When the money comes in, depends on when we complete submission.
SR&ED Advantages: Invest in your company's future
After meeting the eligibility criteria for the Canadian Digital Adoption Program, you'll have access to exclusive perks to take your business to the next level.
Disclaimer: Islands is not an official agency of the Government of Canada or a registered federal arm in any way.
Up to 66% off your team
Is your team involved in the project at all? Claim up to 66% of their salaries back, each year.
Get up to 30%
Work with us, and get up to 30% off your development and R&D costs with us, each year.
$50M lifetime rebate
Every company can claim up to $50M in SR&ED expenses back in their lifetime!
SR&ED your entire R&D spend today!
Tell us a little bit about your company, and one of our Consultants will be in touch to kickstart your SR&ED application. We're committed to helping you maximize the program and beyond.
Frequently asked questions
Everything you need to know about SR&ED
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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 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.
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Still have questions?
Reach out to our team and one of our Consultants will get back to you.
