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The Company has received a Certificate for Finding from AusIndustry to its application for an Advance Finding and Overseas Ruling in relation to its Coldry project in India.


Department of Industry, Innovation and Science.


R&D entities wishing to have certainty about the eligibility of their activities may apply for an Advance Finding by lodging the appropriate form with AusIndustry. An Advance Finding is only required if an R&D entity wants the certainty or wishes to apply for an Overseas Finding. R&D entities do not need to seek an Advance Finding for activities conducted within Australia and its external territories.
An Advance Finding determines the eligibility of an R&D activity and is binding on the Commissioner of Taxation for up to three income years, commencing in the income year of application. Advance Findings only bind the Commissioner in respect of the eligibility of the activities. They do not bind the Commissioner in respect of the eligibility of particular expenditure. During the period for which the Commissioner is bound by a certificate stating that the activities satisfy the definition of R&D activities, Innovation Australia cannot issue a negative finding in regard to activities covered by the certificate.

In order to obtain a positive Advance Finding, entities need to describe their activities in sufficient detail to demonstrate that they meet the legislative definition of R&D activities.

https://www.business.gov.au/~/media...-does-an-overseas-finding-last-PDF.ashx?la=en