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Disclaimer: This tool provides a planning estimate only. SR&ED tax rules are complex. Do not submit these numbers to the CRA without consulting a qualified CPA or SR&ED specialist.

SR&ED Calculator

Calculate credits + generate T661 narratives with your own API key.

Company Details

Company Name *

Canadian-controlled private corporation

CCPCs get 35% refundable on first $6M (enhanced rate)

Prior Year Taxable Capital ($)

$15M–$75M: the $6M enhanced limit phases out. Leave 0 if under $15M.

Province

Fiscal Start

Fiscal End

API Key (for T661 generation)

Groq API Key

Free at console.groq.com/keys. Only used in Phase 5. Stored in session only.

Optional. Credits calculate without a key. Only needed to auto-generate T661 narratives in Phase 5.

How this works:

Enter company details + import your team data
Describe your R&D project and uncertainties
Get instant expenditure + ITC calculations
Generate CRA-ready T661 narratives via AI
Copy everything — your data never leaves your browser

Employees

↑ Import CSV

Map CSV Columns

We auto-detected columns. Adjust if needed, then click Import.

Name	Role	Salary	R&D Hours	Total Hours	R&D %	Region	Spec?

No employees yet

Import a CSV, add manually, or load the demo data

Contractors

No contractors — optional

Materials Consumed

Cloud Compute ($)

Hardware ($)

Consumed only — capital excluded

Other ($)

R&D Project Description

This feeds the T661 narrative generator. More detail = better output.

Project Name *

Project Description

These three fields map directly to T661 Lines 242 / 244 / 246:

Technological Uncertainty (→ Line 242)

CRA needs: what was uncertain + why existing tech/knowledge was insufficient

Work Performed (→ Line 244)

CRA needs: systematic investigation — hypotheses, experiments, results (including failures)

Advancement Achieved (→ Line 246)

CRA needs: what was learned that didn't exist before, with quantitative evidence if possible

Add employees in Phase 2 to see calculations.

Estimated Total Credit (Federal + Provincial)

Federal ITC: Provincial:

Expenditure Breakdown

Eligible Salaries

Proxy Overhead (55%)

Contractors (eligible portion)

Materials

Total Qualified Expenditures

Credit Calculation

Provincial Credit ()

CRIC: 30% on first $1M above $50K exclusion, 20% above

OITC 8% on $3M (refundable) + ORDTC 3.5% on (QE − OITC) (non-refundable)

Federal Base (QE − Prov. Credit)

Phase-out applied

Federal ITC ()

Total Estimated Credit

Method: Proxy (55% of eligible salaries as overhead)

Employees: | Avg R&D:

Specified employee caps: Line 305: (5×YMPE) | Proxy base: (2.5×YMPE, 75% time)

Proxy salary base: (differs from eligible salaries due to specified employee caps)

Note: Provincial credit is gov't assistance — it reduces the federal base before federal ITC is applied.

Show formulas used

eligible_salary = min(annual_salary, 2.5 × YMPE if specified) × (rd_hours / total_hours)

2025 YMPE = $71,300 → cap = $178,250 | 2026 YMPE = $74,600 → cap = $186,500

contractor_eligible = amount × (arm's_length ? 0.80 : 1.00)

proxy_overhead = eligible_salaries × 0.55

QE = eligible_salaries + contractor_eligible + materials + proxy_overhead

provincial_credit = f(province, QE, ...) — see rates above

federal_base = max(0, QE − provincial_credit)

expenditure_limit = CCPC ? max(0, 6M × (1 − max(0, (taxable_capital − 15M) / 60M))) : 0

federal_ITC = CCPC ? min(base, limit)×0.35 + max(0,base−limit)×0.15 : base×0.15

ON: OITC = min(QE, 3M) × 0.08 | ORDTC = (QE − OITC) × 0.035

SPECIFIED EMPLOYEES (>10% shareholders):

Line 305 expenditure cap = 5 × YMPE (no time cap)

Proxy salary base cap = min(salary × min(rd_ratio, 0.75), 2.5 × YMPE)

What this calculator does not cover

Eligibility assessment — CRA’s 5-question test for whether your work qualifies as SR&ED
Schedule T2SCH31 — the ITC schedule filed with your T2 corporate return
Government assistance reductions — other grants (IRAP, NRC, provincial) that reduce your QE base
Multi-project allocation — splitting shared costs across multiple SR&ED projects
Traditional vs proxy method comparison — this tool only uses the proxy method (55%)

A qualified SR&ED consultant typically charges 15–25% of the approved credit. This tool gives you the numbers to bring to that conversation.

T661 Narrative Generation

AI generates CRA-ready text for Lines 242, 244, 246 based on your project context.

No API key set. Go back to Phase 1 to add your Groq key, or write the narratives manually below.

Line 242 — Technological Uncertainty (max 350 words)

Line 244 — Work Performed (max 700 words)

Line 246 — Technological Advancement (max 350 words)

Next steps with this document

Download the PDF and review the narratives — edit placeholders like "[specific metrics to be inserted]"
Bring the PDF to your accountant or SR&ED consultant — they enter the data into TaxCycle/Profile/DT Max
They file the T661 + T2SCH31 electronically with your T2 corporate return
CRA processes within 60 days for low-risk claims (AI-screened as of April 2026)

The T661 cannot be submitted as a PDF — it must be filed electronically through CRA-certified tax software.