pyc rises 4 days in a row- up 24.2% last week, page-12

*waves hand as an accountant*

The R&D tax incentive (introduced 1 July 2011) is a 45% cash offset available on expenses relating to eligible R&D expenditure for eligible companies with turnover below $20M per annum.

This is actually quite substantial for the cash-flow of eligible businesses as it allows them to make the R&D dollars go almost 50% further.

Not surprisingly we are working with a number of Bio's (and other businesses) as this is an extremely attractive benefit for eligible firms.

For PYC, this is likely to lessen the burden of capital requirements for R&D activities. Things like admin expenditures, admin/management wages may not be counted however, so the proportion of eligible R&D expenditure/other expenditure would dictate how beneficial this would be for PYC's cashflow planning