- InteliCare Holding (ICR) received a $756,318 research and development tax refund for the 2020-2021 financial year
- InteliCare says the funds reflect its ongoing investment in developing its proprietary internet of things platform
- Combined with the income from a previously announced entitlement offer, the company is expected to have a cash balance of approximately $4.4 million
- Intelicare says it’s well funded to continue with its current business operations
- Company shares ended the day up 3.66 per cent, trading at 8.5 cents
InteliCare Holding (ICR) has received a $756,318 research and development tax refund for the 2020-2021 financial year.
InteliCare is an Australian technology company offering predictive analytics hardware and sofrware systems for use in the aged care and health industries.
The company aims to enable people to stay in their own homes for longer while empowering healthcare providers to deliver higher quality, more efficient services.
The R&D tax incentive is an Australian government incentive scheme to assist businesses recover some of their yearly costs.
Under this program, a company can receive a cash refund of 43.5 per cent of eligible expenditure.
InteliCare said the funds reflect its ongoing investment in developing its proprietary internet of things platform.
Combined with the income from a previously announced entitlement offer, the company is expected to have a cash balance of approximately $4.4 million.
Intelicare said it’s funded to continue with its current business operations.
Intelicare Holdings ended the day up 3.66 per cent, trading at 8.5 cents.