For claims related to your current tax year, it is the Canada Revenue Agency’s goal to complete the review process on refundable SR&ED claims within 120 days of submission.

For claims related to income tax years that have been previously filed, it is the Canada Revenue Agency’s goal to complete the review process on refundable SR&ED claims within 240 days of submission.

The Ontario Innovation Tax Credit (OITC) is filed alongside the federal SR&ED claim, using a separate OITC form. Calculated on the same SR&ED project values as determined federally, your provincial credits arrive a little later than the federal credits. See us for provincial credit details for other provinces.