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Research and Development Grant
9 Months Ended
Sep. 30, 2016
Research and Development Grant  
Research and Development Grant

10. Research and Development Grant

 

The Company received Research & Development (“R&D”) Tax Incentive refunds, net of costs to prepare and file, 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.  These refunds are related to costs we incurred during the 2014, 2013 and 2012 fiscal years for qualifying R&D programs. The R&D tax incentive program is a self-assessment process, and as such, the Australian Government has the right to audit the qualifying programs and expenditures for a period of four years.