News and Announcements
Research & Development Tax Incentive Refund of $4.9m
- Published October 26, 2012 2:58AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
AnaeCo advises that it has lodged an application for the R & D Tax Incentive in respect of the 2012 financial year under which it expects to receive a cash refund of $4.9m.
The R&D Tax Incentive scheme replaced the R&D Tax Concession from 1 July 2011 and this new scheme provides for cash refunds in certain circumstances. AnaeCo meets the eligibility criteria for cash payment of the refund, which is calculated as 45% of eligible R&D expenses. AnaeCo’s claim is based on expenditure incurred on development of the DiCOM™ System, which for 2012 amounted to $10.9m.
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