Business
Intelicare (ASX:ICR) share price slips despite positive announcement
The Intelicare Holdings Ltd (ASX: ICR) share price is down 2% despite the technology company announcing a $410,611 research & development (R&D) tax refund. The Intelicare share price had earlier risen by as high as 12% to 28 cents before the mid-session break, but has since retreated in late afternoon trade.
What did Intelicare say?
InteliCare said the tax rebate, for the financial year 2019-2020, reflected InteliCare’s significant and ongoing investment in developing its proprietary internet of things (IOT) platform.
The R&D tax incentive is an Australian government incentive scheme to assist businesses recover some of the costs of R&D. Under this program, companies receive cash refunds of 43.5% of eligible expenditure.
The company…
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