InteliCare banks tax refund windfall

InteliCare has banked more than $410,000 following the receipt of its research and development tax refund for the 2019-2020 financial year. The substantial return comes from the development of the company’s InteliLiving and InteliCare Pro product lines, which are being increasingly adopted for use across Australia in aged and disability care.

The windfall has arisen from the Australian Taxation Office research and development incentive scheme to assist companies in the development of innovative technologies or projects. The scheme offers applicants a 43.5 per cent refund on all eligible expenditure.

InteliCare has received a total refund of $410,611, recognising the company’s investment in its range of products over the previous financial year. The refund bolsters InteliCare’s bank balanced to a healthy $3.4 million leaving the company well placed to continue the development of its product line.

InteliCare’s product range is designed around allowing older and disabled individuals to remain independent and in their own residence for as long as possible with minimal oversight. The products deliver carers an automated service, via the internet, to identify problems and prioritise care to reduce the risk of an emergency within the home and care facilities.

The InteliLiving technology utilises home sensors, instead of cameras, to gather information about the resident’s activity around the house whilst also learning the individual’s daily routine. In the event the InteliLiving sensors detect irregular activity, an alert is immediately sent to the carer’s smartphone, or another device, allowing those individuals to take the appropriate action.

The InteliCare Pro system is an expansion of the InteliLiving product and uses a dashboard to monitor multiple clients, creating a networked system that is well matched to aged care and hospital settings. The system facilitates the provision of targeted care, reducing management costs and enhancing the welfare of end-users, ensuring care is being provided to those that need it most.

With over $3 million in the bank and two new distribution agreements signed in recent months, InteliCare continues to spread its innovative networked products across Australia and into the growing eastern states markets for targeted, home-based medical care.  

Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au