FBR receives A$6.3 million R&D Tax Incentive Cash Rebate
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| Stock | FBR Ltd (FBR.ASX) |
|---|---|
| Release Time | 13 Jan 2025, 9:15 a.m. |
| Price Sensitive | Yes |
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FBR receives A$6.3 million R&D Tax Incentive Cash Rebate
Key Points
- FBR receives A$6.3 million R&D tax incentive cash rebate from Australian Taxation Office
- Repays A$4.3 million R&D revolving tax loan facility, retains A$2.0 million cash
- Receives final tranche of US$400,000 from CRH Ventures for US Demonstration Program
Full Summary
FBR Limited (ASX:FBR; OTCQB:FBRKF), a robotic technology company, has received a A$6.3 million R&D tax incentive cash rebate from the Australian Taxation Office for the year ended 30 June 2024. The company had previously drawn down A$4.3 million from its R&D revolving tax loan facility with FC Capital, and will now use the ATO funds to repay this balance, leaving A$2.0 million in cash retained by FBR. FBR may draw again on this revolving loan facility against its expected tax refund for the year ending 30 June 2025. Additionally, FBR has received the final tranche of US$400,000 from CRH Ventures following the completion of the United States Demonstration Program, as announced on 23 December 2024.