Australian Vanadium Limited (ASX: AVL, the Company or AVL) is pleased to announce that it has received a total of $2.63 million from the Australian Federal Government's Research and Development (R&D) Tax Incentive Scheme in relation to R&D work undertaken by AVL and Technology Metals Australia (TMT) in the 2022/23 tax year.
Administered jointly by the Australian Taxation Office and the Department of Industry, Science, Energy and Resources, the self-assessment scheme encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible activities.
The total received comprises $1.79 million from the TMT submission and $0.84 million from the AVL submission which was received during July.
Contact:
Graham Arvidson
CEO
Tel: +61 8 9321 5594
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