British Columbia

The British Columbia SR&ED tax credit is refundable at 10% of eligible expenditure cap for Canadian Controlled Private Corporations (CCPCs).

Available to: Corporations which may or may not be part members of partnerships (except particular members) residing in British Columbia performing SR&ED are qualified to claim the BC SR&ED tax credit.

The deadline to claim the credit: 18 months after the corporations tax year end.

Carryback and carryforward: The tax credit can be carried back 3 years or forward 10 years to decrease income taxes payable.

Assistance: The federal pool of deductible and eligible SR&ED credit will be cut down by the Alberta SR&ED tax credit.

Recapture: Will give rise to British Columbia Tax, payable otherwise.

Potential to renounce: applicable only to non refundable tax credits.

(Research and development (R&D) tax credit and the funding is in addition to the federal SR&ED program)
(This information is correct as at 31 August 2024)