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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2024
Sep 29, 2024
64819_rns_2024-09-29_440cefa3-e2d2-42fb-96a8-e091dbf0ffbe.pdf
Capital/Financing Update
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30 September 2024
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ASX Announcement
R&D Tax Incentive Rebate Received
Environmental Clean Technologies Limited (ASX:ECT) (“ ECT ” or “ Company ”) is pleased to announce it has received its FY24 R&D Tax Incentive rebate from the ATO of $1,473,169.
The amount of $1,418,952 was remitted to the Company’s bank account after the ATO added interest and deducted current PAYG outstanding. These funds will contribute toward financing the Company’s strategic initiatives, including the commercial demonstration of its COLDry technology, working capital and repayment of the loan to Invest Victoria.
Background to the R&D Tax Incentive
The R&D Tax Incentive is a program managed by AusIndustry aimed at supporting eligible research activities.
Activities related to the research and development of the Company’s suite of technologies are eligible, providing a 43.5% rebate.
Where the Company incurs a tax loss, a cash rebate is provided. Where a company has taxable income, a tax offset is provided.
This announcement is authorised for release to the ASX by the Board of ECT.
For further information, please contact:
INVESTORS Sam Rizzo Managing Director [email protected] / +613 9849 6203
MEDIA Adam Giles Marketing & Communications Manager [email protected] / +613 9849 6203
Suite 37/209 Toorak Road South Yarra VIC 3141 Australia
www.ectltd.com.au T: +613 9849 6203 E: [email protected]
Environmental Clean Technologies Limited ASX: ECT ABN 28 009 120 405
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