Have You Tried the SR&ED Self-Assessment and Learning Tool?

Business Resources, SRED Resources, Uncategorised

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The Canada Revenue Agency (CRA) launched its improved online SR&ED Self-Assessment and Learning Tool (called SALT for short) to its resources page this morning.

If you’ve already tried the existing Eligibility  Self-Assessment Tool (ESAT), you can use  SALT to take it one step further and help you predict the likelihood of receiving a SR&ED tax credit for your work. You can enter your work and expenditures as well as answer a few focused questions.

According to the CRA, the purpose of the SR&ED Self-Assessment and Learning Tool is to help you:

  • understand the definition of SR&ED;
  • understand the requirements for the eligibility of work;
  • determine if your company project might include SR&ED work;
  • determine the extent of eligible work that you may have performed; and
  • estimate the associated SR&ED expenditures and your Investment Tax Credits (ITC).

Let us know if you’ve tested out the tool and what you think!