SR&ED Project Documentation

Revenue Canada is very forgiving to first time-claimants in terms of the minimum project documentation and evidence required.   However future claims must conform to increasingly higher standards.  The following suggestions are easy to implement while provide the required documentation.

1) Define the SR&ED Project – Upon commencement of the SR&ED project write down the objectives, technological advancements, and anticipated uncertainties.   It is important to document this information as soon as possible as this information is often lost.

2) Progress Reports – Establish a periodic meeting for each SR&ED project.   Prepare period reports outlining the technical advances achieved since the previous meetings.   Document new uncertainties encountered and outline methods by which you might try to resolve these uncertainties.   It is also critical that you document failures that have been encountered in trying to resolve previous uncertainties.

3) Time Sheets/Logs– Develop detail time sheet that outline specific activities that were undertaken for each project.   The time sheet/log need to indicate: the project name, technical task, outcome/results and time taken to undertake the task.   This report should be done at least once a week so as not to forget key information.