Research and Development Tax Incentive Refund
Media Release
Key points:
- Tellus receives $200,000 Federal Research and Development refund
Chandler salt core drilling program
Tellus Holdings Ltd (Tellus) is pleased to announce that the company has received a cash refund under the Australian Federal Government’s Research and Development Tax Incentive Program of approximately $200,000.
The Research and Development (R&D) tax incentive is an Australian Government program under which companies receive
refunds for 45% of eligible expenditure on R&D.
The R&D refund relates to Tellus activities conducted in the 2012/13 financial year.
“The rebate recognises the important research and development
aspect of the company’s activities,” said Tellus’ Managing Director, Duncan van der Merwe.
About Tellus Holdings
Tellus Holdings Ltd (“Tellus”) is an Australian project development company. Tellus’ flagship projects are a proposed underground rock salt mine with a complementary backfill business supporting the resource sector in the Northern Territory and a proposed kaolin mine with a complementary backfill business supporting the resource sector in Western Australia. The commodity business involves the sales of edible and industrial salt and kaolin to Asia. The proposed complementary backfill business involves the safe recycle, recovery, storage and disposal in voids created by mining – as is common in the UK and EU, the USA and Canada.
For further information:
Visit: www.tellusholdings.com.au or contact:
Duncan van der Merwe
Jane Munday
Managing Director
Michels Warren Munday
Tel: +61 (0)2 8257 3395
M:+61 (0) 427 880 083
