White Cliff Receives $261,361 Research & Development Rebate

18 May 2015

australian-money
White Cliff Minerals Limited (ASX: WCN) (“White Cliff” or “the Company”) is pleased to advise that it has received a research and development (R&D) rebate for the 2013/ 2014 financial year of $261,361.

Under the Federal Government’s Research and Development Tax Incentive Scheme, eligible companies which undertake R&D activities are entitled to a cash rebate of 45% of R&D expenditure incurred in Australia.

The R&D rebate relates to expenditure on the development of proprietary geochemical modelling processes that can discriminate between mineralised and non-mineralised ultramafic lava flows.

Further rebates are expected for research carried out during the 2014-2015 financial year.