FAQ Scientific Research & DevelopmentWhy should we choose NMI?
To maximize your potential claim, NMI experts know the rules and procedures and work in cooperation with Canada Revenue Agency-CRA. We are professionals on both the technical and financial end.
We were turned down years ago. Why go through all that again?
Two reasons: CRA operates within set guidelines and scrutinizes projects in a more transparent and accountable manner than was the case years ago. Second, the NMI staff knows how to structure a successful filing and only pursues claims we know are eligible.
Our own accountants have been doing this for years. Why change?
NMI will review your claim and advise whether or not there are enhancements that are financially significant. A successful claim should mean you receive the maximum possible recovery. It may be financially beneficial to have NMI review your claims on a contingency basis.
Why shouldn't we hire more of our own staff to process our claims?
Outsourcing is a growth sector of the economy for good reason. It reduces overhead. Better still; with NMI you get the benefits of outsourcing with the guarantee of savings.
What if our record keeping isn't that great?
CRA realizes that companies seldom institute formal tracking procedures of technical progress and financial costs when they start an R&D project. They are more tolerant towards first time filers. Professionals such as us, with both the experience and a proven reputation, prepare the claim.
What if our project was not ultimately successful?
Commercial success or failure is not a requirement. It does not affect your eligibility to claim an expense recovery if the project meets the technological criteria.
How can we file when I read that somebody else hit the market with a similar product before we did?
The difference is in whether or not your project operated independently of your competitors, and whether or not the project was aimed at an advancement that goes beyond common practice in your industry. Even if you were beaten to market, your R&D may be eligible.
We are busy trying to develop our company. How can we find the time?
NMI reduces the time required from your staff. A typical recovery takes only hours of your staff's time. We handle the filing process, attend all CRA audits, and can adjust your income tax returns to maximize your benefits.
Will we have to go through an audit?
Most first time filers will undergo an audit as part of CRA's due diligence process. A professionally prepared claim can help expedite this step. NMI handles and supports your claim throughout the appeal process if CRA does not initially approve your claim.