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27/03/15
12:34
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Originally posted by PleaseDYOR
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Alchemia Announces Receipt of $6.5m Refund from the
R&D Tax Incentive Program
BRISBANE, Australia: 31 December 2014 – Alchemia Limited, (ASX: ACL) a drug discovery and
development company, announced today it has received a cash refund of $6.5m under the Australian
Government’s R&D Tax Incentive Program.
These funds were received as a result of a successful claim under the Australian R&D Tax Incentive
Program for the year ending 30 June 2014. “This refund has ensured the Company has a solid cash
position while it continues with its strategic review.” commented Dr. Tracie Ramsdale, Alchemia’s
Executive Director.
The Company expects to provide the market with a full update of its strategic review in January
2015.
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You can only get a Tax Refund if you're earning taxable income. Once (if?) TIS gets an income stream going then all these R&D costs can be claimed back.