Melbourne, Jan 22, 2009 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ASX:ESI) advises that on 20 January 2009 The Australian Taxation Office (ATO) issued a cash refund (Research and development tax offset) including interest amounting to $263,307.90 to ECT in relation to the 2006 financial year.
ECT has registered its Research and Development activities for the 2007 financial year and is in the process of registering for the 2008 financial year with AusIndustry.
ECT is in the process of lodging similar research and development tax offset claims with the ATO for the 2007 and 2008 financial years, which are subject to the approval of the ATO, and anticipates receipt of comparative offsets this calendar year.
"Combined with the $220,000 raised from our recent Share Placement, the receipt of these additional funds mitigates the immediate cashflow impact of the recently announced delay in receipt of Tranche 2 of the Zero Coupon Convertible Note", said ECT Chief Executive Kos Galtos.
About Environmental Clean Technologies Ltd
Environmental Clean Technologies Limited (ASX:ECT) bridges the gap between the current high emission reality and the zero-emission world of the future. ECT's technology aims to play a key role in the transitional pathway to net zero by utilising abundant low rank and waste fuel sources in a new, clean way. ECT's technology suite creates clean and reliable applications and products for the energy, agricultural and industrial sectors.
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