{"id":3114,"date":"2018-09-25T23:17:57","date_gmt":"2018-09-25T23:17:57","guid":{"rendered":"https:\/\/rdactionconsultant.com\/?p=3114"},"modified":"2025-11-27T18:29:45","modified_gmt":"2025-11-27T18:29:45","slug":"test-your-knowledge-of-the-sred-tax-credit","status":"publish","type":"post","link":"https:\/\/rdactionconsultant.com\/en\/blog\/test-your-knowledge-of-the-sred-tax-credit\/","title":{"rendered":"Test your knowledge of the SR&ED tax credit"},"content":{"rendered":"
\n

Test your knowledge of the SR&ED tax credit – 10 questions abour R&D<\/h2>\n

We already published<\/a> <\/strong>a similar test and many asked for more. So here is an other one for all of you, experts.<\/p>\n

So, you think you are an expert in SR&ED ?<\/strong><\/h2>\n

The R&D Tax credit is one of the most complex areas of the Income Tax Act. Do you think you are an expert in R & D credit? Do you need help from anyone? Let’s see how true this is. Test your knowledge with this short 10 question quiz.<\/p>\n

    \n
  1. In order to claim the credit, a company must have a full technical and accounting documentation about the claimed years.<\/li>\n
  2. Process improvements cannot qualify for the research credit.<\/li>\n
  3. In order to receive a credit, a company\u2019s research efforts and activities must be incremental, that means increasing year-over-year.<\/li>\n
  4. Quality control activities always qualify as SR&ED.<\/li>\n
  5. In a CRA technical audit, answering the three criterias of advancement, uncertainties and work done is not enough anymore. You need to answer the five eligibility questions.<\/li>\n
  6. Wages and compensation of officers and directors cannot be included within the research credit.<\/li>\n
  7. The SR&ED Investment Tax Credit earned in a tax year can be carried back and applied against tax otherwise payable in any of the 3 previous tax years or can be carried forward 20 years.<\/li>\n
  8. The probability of having an audit can be greatly reduced by improving your project descriptions, the reasonability of costs claimed and the coherence of your claim.<\/li>\n
  9. A claim preparer\u2019s invoices are claimable as SR&ED eligible expenses.<\/li>\n
  10. The same project can be claimed as SR&ED over many years without changing the advancements sought or the uncertainties.<\/li>\n<\/ol>\n

    In conclusion, you have a comment or suggestion about this quiz? Want to share your results with us? We want to hear from you! Please leave a comment below.<\/p>\n

    Did you like reading this ? Tell us so. What should be added ? What are you interested into ? You did not like reading this ? Tell us so. What is it that you disliked ?<\/p>\n

    Answers : 1 :F\u00a0 2 :F\u00a0 3 :F 4 :F\u00a0 5 :T\u00a0 6 :F\u00a0 7 :T\u00a0 8 :T\u00a0 9 :F\u00a0 10 :F<\/p>\n

    6\/10 is a strict minimum, you are excellent if you reach 9 or 10 \/10<\/p><\/div>\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Test your knowledge of the SR&ED tax credit – 10 questions abour R&D We already published a similar test and many asked for more. So here is an other one for all of you, experts. So, you think you are an expert in SR&ED ? The R&D Tax credit is one of the most complex…<\/p>\n","protected":false},"author":8,"featured_media":3115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[93],"tags":[],"class_list":["post-3114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interpretation"],"acf":[],"yoast_head":"\nTest your knowledge of the SR&ED tax credit - R&D Action<\/title>\n<meta name=\"description\" content=\"Test your knowledge of the SR&ED tax credit and see if you need help in your actual or future claims\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rdactionconsultant.com\/en\/blog\/test-your-knowledge-of-the-sred-tax-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Test your knowledge of the SR&ED tax credit - 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