Many companies have benefitted greatly from our knowledge of federal and provincial SR&ED tax measures intended to support the development or improvement of products and processes, as well as basic or applied research.
For reasons involving privacy and confidentiality, we cannot disclose specific measures as they applied to our clients. However, we can discuss the context of our interventions and the benefits of these measures for clients. Upon request, we will be happy to provide you with references whose testimonies will provide confidence that our work can benefit your company. Quote figures.
A large Canadian company with more than 30 mineral processing plants discovers and recovers tax credits to which they were entitled for the past…15 years.
Having their own internal claiming processes to save money, many tax credits were simply not claimed due to lack of knowledge that certain projects made them eligible for these credits. PREMTEC identified this failure and is now recovering millions of dollars in additional tax credits for the company. Nothing less than net profits.
A medium-sized company in the electronics and aerospace industry recovers millions of dollars in tax credits that were not claimed over the past 20 years.
The company was managing its tax credit claims using an internally developed system that omitted to claim eligible activities related to personnel expenses. The result was lost profits of nearly $250,000 per year. PREMTEC has ensured that these amounts are now claimed every year.
A small company in the IT industry loses its financing and must close its doors. In spite of this, the company recovers $500,000 in tax credits.
In the context of an IT “crash,” this company, which employed more than 50 IT engineers was forced to close its doors. The closing of the company and detailed technical and financial audits by government bodies did not prevent PREMTEC from assisting the company’s successful collection of $500,000 in tax credits, being 100% of those credits claimed. This is proof that experience is more effective than intuition: never did management think this was possible.
A multinational company in the wood processing industry failed in its attempt to obtain tax credits. Since our intervention, the company has been successful year after year.
The company worked 6 months to prepare its tax credit claim. The claim was rejected and the company felt discouraged, having invested time and money in a process that proved unsuccessful. The involvement of PREMTEC changed everything: in less than a week, our work method allowed us to analyze the company’s situation in six plants and to identify strategic information needed to successfully claim the SR&ED tax credit. Two fiscal years were revisited successfully. Ever since, our involvement has allowed the company to obtain 100% of the amounts claimed, year after year.
A multidisciplinary multinational company (aerospace, hydroelectric, IT…) obtains 30% more in tax credits…by changing consultants.
Maximizing is investigating everywhere and accurately. Consultants specializing in the preparation of tax credit claims in SR&ED for this multinational omitted eligible activities and expenses. The know-how and the accuracy of PREMTEC allowed the company to obtain 30% more credits following the filing of an application for revision. Obviously, the request was accepted.
A telecommunications company requests and receives its tax credits faster, while avoiding an uncomfortable situation.
Since the intervention of PREMTEC, this company does not necessarily receive more tax credits than previously, but it certainly has a new-found appreciation of the fiscal benefits of timely filing. Before our involvement with this company, claims were tardily submitted via amended tax returns. The company simply lacked a reliable process for reporting and recording SR&ED activity, so claims were always late, delaying the receipt of monies owed. Its cash flow was obviously affected, but worse still, the recurring late payments exposed the company to both financial and technical audits by government agencies an uncomfortable (and unnecessary) situation for any company.