News and Announcements
Credi Receives Over $285k from Government R&D Reimbursement
- Published December 19, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Credi is pleased to provide the following update to stakeholders that through the Australian government R & D tax incentive program Credi has received a $285,085 reimbursement today.
This is in line with projections and follows Credi’s oversubscribed capital raising of $500k.
The Research and Development tax incentive, according to the ATO, encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible R&D activities. It has two core components:
- a refundable tax offset for certain eligible entities whose aggregated turnover is less than $20 million
- a non-refundable tax offset for all other eligible entities.
About Credi Pty Ltd
If you’ve ever loaned your children money you are officially a branch manager of “The Bank of Mum and Dad”. You are also a part of one of the fast-growing sectors of the Australian economy. Credi.com was born out of the pressing need to document loans between family members, friends and businesses. It removes the stress, the embarrassment and the risk of legal action, formalising a loan within minutes and without a scrap of costly, time-consuming paperwork.
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