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Agrimin receives tax refund under R&D Tax Incentive programme

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World Fertilizer,

Agrimin Ltd. has received a tax refund of AUS$1.9 million under the Research and Development (R&D) Tax Incentive programme in relation to R&D expenditure incurred for the Mackay potash project, Western Australia, during the year ended 30 June 2019.

This tax refund includes overseas R&D expenditure that is eligible under the company’s successful overseas finding application which was approved by the Australian Government’s Department of Industry, Science, Energy and Resources in October 2019.

Mark Savich, CEO of Agrimin said: “Receipt of this R&D tax refund is welcomed support from the Australian Government and strengthens our financial position as we near the completion of our definitive feasibility study for the Mackay potash project.”

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