The automotive industry is constantly changing and seeking new innovations in product development in order to satisfy the ever-growing demands of consumers. One of our manufacturing clients in Ontario continuously develops highly innovative products to remain competitive in this industry; NorthBridge engaged with them to help optimize their refundable tax credits from the Scientific Research & Experimental Development (SR&ED) program. NorthBridge helped train the employees to become compliant with SR&ED best practices, to generate contemporaneous documentation, and to track eligible costs, which included materials consumed, direct labour, and subcontractor expenditures.
With the help of NorthBridge’s team of engineers and technical writers, the client was able to submit a detailed claim that was accepted as filed within a short duration of time following submission. This funding will allow the company to continue to invest in innovative automotive products and to remain competitive in the industry. Because of NorthBridge’s assistance and ongoing training, this manufacturer was able to increase their SR&ED claim expenditures for the current fiscal year.
