The food and beverage industry across Canada is thriving – it’s the second largest manufacturing industry in Canada in terms of value and employs 290,000 Canadians! Despite being a highly innovative industry, the SR&ED program is often overlooked by the companies working within it.
We understand the name itself can be misleading. Scientific research and experimental development often make us think of scientists working in a lab – not commercialized products. With that said, the food and beverage industry is constantly working to effectively and efficiently improve products, processes, and delivery methods. Desired results in these areas are typically achieved through systematic research and development.
Perhaps you can begin to see how work within the industry fits into SR&ED criteria. Another item to note, the work doesn’t need to be completed by engineers and scientists. As long as you have technically competent and qualified people on the job. Many successful claims include programmers, project managers, technicians, skilled tradespeople, and process operators.
Typically Unclaimed SR&ED Expenditures in the Food and Beverage Industry
Below are some examples of work that your food and beverage company may be missing out on.
- Integration of new equipment into a production line
- Trial batches with scale-up to production issues
- Attempts to remove or reduce harmful ingredients in response to new Health Canada / FDA regulations
- Attempts to meet new nutritional objectives while maintaining product taste, smell, colour, texture, and / or appearance
- Efforts to extend product shelf-life
- Process or equipment modifications to improve yields
Does Your Company Qualify for SR&ED?
If you still aren’t sure if your company qualifies for a SR&ED claim, or where to get started, get in touch with us here.
Our food and beverage consultants have senior-level experience serving a variety of industry stakeholders. We’re able to recognize unclear and often missed work that can substantially increase the amount of tax credits our clients receive.
Did we mention 75% of the 18,000 yearly successful claimants are small businesses?
*The information above is meant for informational purposes only, and not to be used as advice.