SR&ED for the Cannabis Industry
Refunds for cultivating, processing, and developing technologies for Canada’s cannabis sector
When you spend time or money to solve growing, harvesting or processing problems, you’re probably eligible for an SR&ED refund. SRED Unlimited makes it seriously easy to submit a claim. There are no fees or costs until you get your refund, and we do all the claim preparation work for you.
Is your company eligible?
If you are…
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Developing new growing, harvesting, or storage technologies…
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Solving pest and disease problems…
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Creating or improving new products or processes…
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Studying cannabis genetics, cannabinoids, or analytics…
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Experimenting with fertilization methods and techniques…
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Experimenting with extraction techniques…
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Applying sustainable initiatives in a new way…
…your time and material costs are probably eligible for SR&ED tax credits or refunds.
Your SR&ED application doesn’t have to take a lot of your time
Your team needs to spend their time doing what they do best ﹘ growing your business. So let our people do what we do best ﹘ minimize your time investment in preparing a claim. SRED Unlimited helps you identify eligible projects and then takes over the entire claim preparation process.
It’s quick, it’s easy, and it minimizes the time your team is away from what they need to be doing. It’s a turnkey-style operation that lets your staff focus on their own work, not the administrative and technical details of preparing claims.
Grow your business with SR&ED tax credits
The Cannabis industry is the newest and one of the fastest growing industries in Canada. Companies are encountering a lot of uncertainties and unanticipated challenges. The work you’re doing to solve growing, harvesting and processing issues, and the learning you’ve generated from applying new strategies can make you eligible for the SR&ED tax credit program.
You can claim employee time and wasted materials associated with work in these areas — whether your project goals were achieved or not. All claims are based on work you are already doing. So, it makes sense to capitalize on any refunds you are eligible to receive.
SRED Unlimited knows how this very unique industry can fit the SR&ED requirements, and can grow with you as you grow.
We can help you grow SR&ED tax credits
If your company has spent time developing a product, process, or technology that targets non-standard demands in the medical or recreational cannabis sector or uses non-standard components or strategies, you could receive a refund. You can claim employee time and wasted materials associated with work in these areas—whether your project goals were achieved or not.
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SR&ED for Cannabis Examples**
**These are hypothetical types of projects that may contain SRED-eligible expenses
SR&ED for Cannabis Example 1**
Ex 1: Growing Up has been experiencing increased incidents of root rot in their crop. Their growing facilities meet accepted growing practices, so they are unsure why this is happening.
SR&ED for Cannabis Example 2**
Ex 2: Green Beanies has been making clothes from hemp. There are accepted practices for harvesting hemp to create the cotton-like fibers needed for the clothing industry, and accepted percentage of product wastage of 15% overall in the process. Green Beanies wanted to reduce their overall wastage to 2-5%, and there was no information available on how they might be able to achieve that.
SR&ED for Cannabis Example 3**
Ex 3: Potted Greens has been experiencing increased incidents of bugs that result in 30% loss in their crop yield. Health standards stipulate that they cannot use commercial or chemical-based pesticides. It’s unknown what product they can use or in what concentration without affecting the quality of the final product. While natural anti-pest strategies do exist (eg: Praying Mantises and ladybugs) it remains uncertain if these methods would be of any benefit in this application.
SR&ED for Cannabis Example 4**
Ex 4: Extraction technologies for the hemp industry are in their infancy. While there are many theories as to what constitutes the best extraction process to produce as pure a product as possible, there are no certainties in this area of the industry. Both THC and non-THC versions of CBD oil are used for different purposes and need to be of the finest quality. Grainage Inc. has not been able to meet the standards they want using existing technologies and practices.
Our expert SR&ED consultants can help
Our team of SR&ED consultants handles the heavy lifting of the SR&ED claims process. Consultants are matched with claims based on their industry-specific expertise and applied knowledge. We’ll help you determine your eligible projects, maximize your refund and minimize the stress associated with claim preparation. If your company has spent time developing or improving a product, process, or technology for your business, you are likely eligible for an SR&ED refund.
Why you need SRED Unlimited
If you’re looking to increase your cash flow and financing but don’t have the time to learn all the details of the SR&ED tax incentive program, then it’s worth a 15-minute call with SRED Unlimited. Our team has the expertise to manage your claim preparation including the writing of all technical and cost reports in the language and format the CRA expects to see. We will also guide you through any Review process should the CRA request additional information.
SRED Unlimited offers:
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Free consultation on qualifying SR&ED expenses
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Experienced cannabis consultants on staff
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No upfront fees—we only get paid when you do
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A professional SR&ED accountant to complete your claim
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Annual claim submissions for eligible work
It’s worth a 15-minute phone call to determine if you qualify. Contact us today to book a consult.
Maximize your claim. Minimize your stress.™
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