The SR&ED Tax Credit is an excellent way of recovering a significant portion of your six sigma project related expenses.
If you are using Six Sigma to improve processes or solve problems in your facility, whether on the shop floor or in the office, you can reap not only the benefit of your six sigma project, but also through the filing of an SR&ED claim get a significant portion of the project cost back.
By identifying the need for using six sigma and through following the six sigma DAMIC process, you almost certainly will have a project that meets the CRA's three criteria for an SR&ED claimable project; Technological Advancement, Technological Uncertainty and Technological Content.
The nice thing about the six sigma process is that if followed, it requires you to very clearly define your problem/objective, analyse data, measure results, identify the improvement and put in controls to sustain the improvement. The resulting documentation that this forces will automatically support your SR&ED claim.
So when identifying and reporting the positive results of your six sigma project, don't forget to include the dollars you are going to get back by filing an SR&ED claim.
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