NeuRizer Ltd. announced that Aus Industry has awarded the Company a "Certificate for Advance Finding" for certain activities under Stage 1 of the NeuRizer Urea Project. An Advance Finding is intended to provide companies with certainty that planned activities are eligible under the R&D Tax Incentive programme. It is binding for the income tax years commencing 21/22 and two subsequent years.

The finding provides certainty over current and forecast Research and Development claims for up to 3 years. The Advanced Finding relates to estimated eligible expenditure of $70.7m to be incurred on Stage 1 of the Project. Eligible expenditure currently entitles NRZ to claim a refundable tax offset, or cash rebate at the rate of 43.5% of costs incurred.

As such, if expenditure were to be incurred exactly in line with forecasts, then NRZ would receive a cash rebate of $30.7m. The refund is claimable by the Company following the lodgment of its annual income tax return. Approximately $9.3m of such expenditure is for Fiscal Year 21/22 with the Company anticipating a cash rebate of approximately $4.0m.

A significant component of expenditure of the project in the current financial year will also be eligible for a rebate.