interesting article from mergermarket, page-11

I need to make some correction in here:

First of all on R & D rebate:
(New rules apply from 2012 financial year)

• a 45% refundable tax offset for eligible entities with an aggregated turnover of less than $20 million - unless they are controlled by tax exempt entities (Apply to PRR as PRR doesn't have much turnover at all at the moment. Company is not required to make positive taxable income to be eligible to claim the tax credit back from the ATO. I am an accountant & I have done some R & D rebate applications to my client & majorily of them have a huge carry forward tax loss)
• a 40% non-refundable tax offset for all other eligible entities.

Secondly on carry forward loss:

If the control power has changed (in the way of being bought out & major shareholders change accordingly), the company won't be able to utlise the carry foward tax loss from previous years.

Hope above information is useful to your guys. Cheers