Micro-X has received a research and development tax incentive worth AU$6.4 million

Micro-X Ltd (ASX: MX1) announces a significant achievement in its commitment to innovation. The Company has successfully secured a Research & Development Tax Incentive of AU$5.83 million for the financial year ending 30 June 2024, alongside an additional AU$0.58 million due to an amendment related to the FY22 R&D tax incentive. This brings the total amount received to AU$6.41 million, consistent with Micro-X's prior guidance.

This substantial cash rebate from the Australian Tax Office underscores its dedication to advancing eligible Australian R&D activities in the 2023/2024 and 2021/2022 financial years. Furthermore, it is important to highlight that Micro-X had previously accessed AU$4.57 million through an advance funding facility, which will be repaid as part of this receipt. This funding reflects its continuous drive for excellence in cold cathode X-ray technology, reinforcing its position as a leader in the health and security markets globally.

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