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SR&ED tax credits are financial incentives offered by the Canadian government to encourage businesses to conduct scientific research and experimental development. The program aims to reduce the financial burden of innovation by offering tax refunds for eligible research activities. These credits are available to businesses of all sizes and across various sectors, including technology, manufacturing, and pharmaceuticals. Eligible R&D activities must aim to resolve scientific or technological uncertainties, such as the development of new products, processes, or improvements. SR&ED tax credits can significantly reduce R&D costs, making innovation more accessible to Canadian businesses.
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