In 2014, NorthBridge consulted with a manufacturer in British Columbia, in order to determine which new products and processes were eligible for financial reimbursement through the Scientific Research & Experimental Development (SR&ED) tax credit program. This manufacturer consistently invested in new development and had taken advantage of the SR&ED tax credit in previous years.
Though the company had previously filed for SR&ED, they were not capturing all of the eligible costs related to new development. NorthBridge was able to identify additional SR&ED-eligible expenditures, which led to an increase in the size of their claim. As a result of our communication with the company and the diligent preparation of their SR&ED claim, the project expenditures were accepted as filed. The tax credit that was awarded will be invested in future development projects and will allow the company to stay competitive in their industry and realize new growth and success.