NRZ secure funding against Australian Government R&D “Advance Finding”

NeuRizer announced yesterday that it had secured funding against the Australian Government Research and Development “Advance Finding” Tax Rebate agreement, which was received and announced in December 2022.

The Advance Finding allows NeuRizer to receive a tax rebate against its annual tax returns for 3 years commencing with the 2021/22 financial year.

NeuRizer’s 2021/22 tax return will be lodged imminently this month. NeuRizer anticipates a rebate of approximately $5m for the 2021/22 expenditures already incurred.

NeuRizer expects its Research and Development expenditure over these 3 financial years to be approximately $70.7m in total, meaning a cash rebate of 43.5% is available, or approximately $30.7m in total over the 3 years.

NeuRizer has secured a finance facility against this rebate allowing an early injection of funds of approximately $4m. The cost of these funds is 1.5% per month ($60,000) of the drawn down amount. NeuRizer expects that the facility will exist for approximately 1 month.

NRZ secure funding against R&D Advance Finding