You’ve worked hard, documented what you did, and made some advancements in your field. Your books are up-to-date and your accountant is ready. Now it’s time to put it all together in a submission and show CRA that your R&D was real, structured, and worth funding.
Let’s review what the overall process of submitting your claim.
Assemble the list of official forms required by CRA. This will include your Technical Report, Financial Report, and the whole package will form part of your Corporate Tax Return.
Review with your accountant (and project managers) what supporting documents and internal worksheets you will use to support your claim.
Fill out the T661 (your main SR&ED form).
Add any required provincial schedules or investment tax credit forms (Schedule T2SCH31).
Submit everything together—your SR&ED claim is filed as part of your T2 Corporation Income Tax Return.
Use CRA’s My Business Account portal to check progress and see if they’ve requested more information.
Sometimes the CRA will ask for clarification or more details. Be ready to provide extra documentation or participate in a technical or financial review.
(See next lesson for a discusson on audits and working with CRA)
