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The Canadian medical research community has been able to take advantage of the Scientific Research & Experiment Development (SR&ED) program under several scenarios, including claims by individual medical professional corporations and various structures where groups of doctors organize and make claims collectively. The most common type of medical professional corporation claim entails doctors that are incorporated and conducting eligible research as part of their appointment at an academic health science center. In this scenario, the doctor would be conducting research and may or may not be receiving grant funding, and / or have partnerships with clinical research, pharmaceutical, and / or biotechnology companies. Although there is an expectation for such doctors to be conducting research, it is not required. Often, there is no direct compensation linked to the research being conducted, which allows for the time the doctor has spent on research projects to be claimed as work done for their medical professional corporation.
If a group of doctors are able to organize themselves in a collaborative manner, then several additional scenarios are plausible where the group can make a SR&ED claim collectively, allowing further compensation of their time and if desired, reinvestment into the groups’ research program.
Over the past decade, MNP has been successful in helping medical doctors make both individual and group-level SR&ED claims. Such claims are put together by a team of experts, including scientists well versed in medical research and designated SR&ED tax specialists. This strategy minimizes the time a claimant needs to spend in preparing their claim, putting it in the hands of those who understand how to efficiently construct a claim while guiding the claimant through the CRA review process.
To learn how MNP can assist you with your SR&ED claims, contact Neha Tiku, Business Advisor, SR&ED, at 416.515.3834 or
[email protected], or your local MNP Business Advisor.
Related Topics:Scientific Research and Experimental Development; Doctors
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