According to the Financial Report for the quarter ending 30 June 2017, $6,857,000 was spent on R & D for the year.
I don't fully understand how the refund is calculated but it appears that it can be as high as 43.5% of R & D expenditure and scaling down to the company tax rate depending on the amount of turnover. That should make the refund about $2,982,795, if they are entitled to the maximum refund.
Please check my figures, bean counting was never my strength.
In previous years, the refund has always been announced before Christmas. For some reason we are still waiting to see what it is.
I can only think that the company is waiting until the Murchison and Garden Island Microgrids are fully commissioned before they make a raft of income related announcements. By now both microgrids should be finished, at least Murchison should be with GI being very close.
I would be thinking they will hit us with these announcements very soon. The next quarterly report is due on 31 January 2018, I don't think the shareholders can stand too much more non news.
https://www.ato.gov.au/business/research-and-development-tax-incentive/about-the-program/
