Audeara Limited received a $672,681 R&D Tax Incentive for the 2023 financial year.
The incentive is for the development of state-of-the-art headphones and personal sound amplification solutions.
The Australian Federal Government's R&D Tax Incentive program provides a tax offset to encourage R&D activities benefiting Australia.
Audeara's tax offset was 43.5% of its expenditure on eligible R&D activities.
The R&D program supports Audeara's advancement of healthy listening solutions for those with hearing difficulties.
Audeara is a global leader in hearing health, focusing on innovative listening solutions for people with hearing challenges.
The company aims to redefine hearing health by offering products that provide tailored listening experiences.
Audeara designs and engineers its products in Australia, aiming to enhance the quality of life for people of all ages and abilities.
Through its AUA Technology business unit, Audeara partners with leading brands for R&D, licensing, and manufacturing of listening devices.
Audeara distributes its products in Australia, Europe, Asia, and North America, as well as through e-commerce channels.
This announcement is a summary of the company approved ASX announcement on 4/3/2024