Entyr Limited: Receives AU$9.34 million R&D Tax Incentive Payment

Entyr Limited (ASX: ETR) reported the acquisition of AU$9.34 million, alongside interest, as part of the Research and Development (R&D) Tax Incentive for the 2022/2023 financial year. This substantial incentive directly correlates with Entyr's eligible expenditures during the said fiscal year, specifically attributed to the registered core and supplementary activities linked to the advancement of its pioneering project, "Commercial thermal desorption application to rubber waste."

The R&D Tax Incentive, a commendable initiative administered jointly by Australian Industry and the Australian Taxation Office under the Australian Federal Government, affords eligible companies a 43.5% refundable tax offset on designated R&D expenses. Entyr acknowledges and values the supportive framework provided by this initiative, which encourages innovation and bolsters ongoing advancements in critical projects. This substantial financial injection serves as a testament to Entyr's commitment to ground breaking research and development, emphasizing its dedication to driving sustainability through inventive approaches to rubber waste management. The company eagerly anticipates further progress and innovation driven by this welcomed support.

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