Environmental Clean Technologies Limited (ASX:ESI) Recieves R&D Tax Offset Of A$257,672
Melbourne, Jan 11, 2010 AEST (ABN Newswire) - Environmental Clean Technologies Limited (
ASX:ESI) advises that on 4 January 2010 The Australian Taxation Office (ATO) issued a cash refund (refundable R&D Tax Offsets) including interest amounting to A$257,672.27 to ECT in relation to the 2007 financial Year.
ECT has registered its Research and Development Activities for the 2008 financial year and is in the process of registering for the 2009 financial year with AusIndustry.
ECT is in the process of lodging similar research and development tax offset claims with the ATO for the 2008 and 2009 financial years, which will be subject to the ATO's normal tax return assessment process, and anticipates the receipt of further, as yet unquantified, refunds in respect of those years.
"Combined with the recent placement of A$2.64M, the receipt of these additional funds adds to the solid financial foundation of the company as we advance existing deals and develop new opportunities," 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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