Environmental Clean Technologies Limited (ECT) advises that on 4 January 2010 The Australian Taxation Office (ATO) issued a cash refund (refundable R&D Tax Offsets) including interest amounting to $257,672.27 to ECT in relation to the 2007 financial Year.
ECT has registered its Research and Development Activities for the 2008 financial year and is in the process of registering for the 2009 financial year with AusIndustry.
ECT is in the process of lodging similar research and development tax offset claims with the ATO for the 2008 and 2009 financial years, which will be subject to the ATO’s normal tax return assessment process, and anticipates the receipt of further, as yet unquantified, refunds in respect of those years.
“Combined with the recent placement of $2.64M, the receipt of these additional funds adds to the solid financial foundation of the company as we advance existing deals and develop new opportunities,” said ECT Chief Executive Kos Galtos.
For more information please contact:
Chief ExecutiveKos Galtos +613 9909 7684