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Research and Development Grant
12 Months Ended
Dec. 31, 2015
Research and Development Grant  
Research and Development Grant

10.  Research and Development Grant

 

During the year ended December 31, 2015, the Company received Research & Development (“R&D”) Tax Incentive payments totaling $10,220, net of costs to prepare and file. These amounts were paid under the Australian Government’s R&D Tax Incentive Program, a program designed to encourage industry to engage in R&D activities that benefit Australia; and relate to costs we incurred during the 2012 and 2013 fiscal years for qualifying R&D programs.

 

This R&D Tax Incentive program is a self-assessment process, and as such, the Australian Government has the right to review the qualifying programs and expenditures for a period of four years.  No similar transactions occurred in 2014.