My organisation has received IRAP funding. Can I still claim a SR&ED tax credit?

You can still receive a SR&ED tax credit even if you have received IRAP (Industrial Research Assistance Program) funding. However, you can’t claim directly on the IRAP grant funding but you can claim on other costs you’ve contributed towards the overall project. As an example, let’s say you have a project totalling $350,000; $100,000 is from IRAP funding and the other $250,000 is non-IRAP funding. You can still claim the SRED benefit on the $250,000.

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