Lynas Corp.: $14.1 Million Received in Respect of Eligible Research and Development Expenditure
November 4, 2013 (Source: Lynas Corp.) — As foreshadowed in the Quarterly Activities Report that was released on 31 October 2013, Lynas Corporation (ASX:L YC, OTC:LYSDY) has now received A$14.1 million from the Australian Taxation Office (ATO) relating to eligible research and development (R&D) expenditure incurred during the year ended 30 June 2013, principally on the development of the Lynas Mt Weld Rare Earths Project.
The amount was received under the Australian R&D Tax Incentive Program, which helps businesses to offset a portion of costs related to eligible R&D activities and innovation. The program is administered jointly by Auslndustry and the ATO.
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