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Example 2: Turnover <20M in Profit

Turnover <$20 million
Taxable Position PROFIT of $1 million
Eligible R&D Expenditure $1 million
Benefit $160,000
($1 million  x 43.5% = $435,000)
LESS  ($1 million x 27.5%=$275,000)
Benefit in the form of Reduction in tax liability and any unused offset amount will be refunded
Turnover

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