News and Announcements
AnaeCo – Approval of Research & Development Tax Incentive Refund of $4.9m
- Published February 21, 2013 4:53PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
AnaeCo confirms that it’s R&D Tax Incentive of $4.9m in respect of the 2012 financial year has been approved.
The R&D Tax Incentive scheme replaced the R&D Tac Concession from 1 July 2011 and the 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. AnaeCo’s expenditure on development of the DiCOM System, in particular through its demonstration at the WMRC DiCOM Expansion Project, has continued in the 2013 financial year and AnaeCo expects to make a further eligible claim for this year.
To read a full ASX announcement, please download the document below.
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