XPED received refundable Tax Offsets for R&D from the Australian Taxation Office and AusIndustry

December 28, 2019 04:50 AM AEDT
Utkarsha Kalra

Manager, PR and Media Relations Utkarsha Kalra
5 Posts
Utkarsha comes with an experience of over 7 years in financial and management reporting in one of the big four consultancy firms. Her expertise lies in developing communication strategies for business development, stakeholder management, conflict man...

XPED Limited (ASX: XPE) has received refundable Tax Offsets for Research and Development from the Australian Taxation Office and AusIndustry of $1,634,607 for the 2017/2018 income year under the R&D Tax Incentive program.

XPE, under section 27J of the Research and Development Act 1986, received a Certificate of Findings from the Commonwealth Department of Industry, Innovation and Science prior this year. It evaluated that some activities of XPE were found to be unqualified for the R&D Tax Incentive for the 2017/18 income year.

However, the company successfully appealed the finding and now has received new Certificate of Findings which confirmed that most of the activities were eligible.

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