State GAS Ltd Receives $4.1M R&D Tax Concession
Key points
- ATO review complete for R&D funding claim
- $4.1M of R&D tax concession funding to be released
- Funds will repay working capital loans and boost cash reserves
Full summary
State GAS Ltd (ASX: GAS) has announced that the Australian Taxation Office (ATO) has completed its review of the company's Research and Development (R&D) concessional funding claim. The claim relates to the company's expenditure on designing and developing its High Density Natural Gas (HDNG) pilot plant. The ATO confirmed the eligibility of the costs claimed and the company's governance and financial processes. The R&D claim proceeds of $4.1 million will be released before the end of July 2026, enabling repayment of all working capital loans and contributing to cash reserves.
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