The Australian Government provide financial incentives and grants to assist local businesses whose objectives are aligned with the country’s. We can assist you with maximising your claim with the following types of grants and incentives.
- Export Market Development Grant (‘EMDG Grant’)
- Research and Development Tax Incentive (‘R&D Tax Incentive’)
Local Australian businesses that have a focus on growing their international footprint can potentially benefit from applying for an EMDG. Successful applicants must incur a minimum of $15,000 on eligible export promotion expenses, in order to obtain a reimbursement of 50% of those expenses above $5000.
The Government has announced changes to the EMDG program as part of the COVID response. The most significant change is that, for the 2020 Claim Year, the performance metric will not apply. In general terms, the performance metric capped the grant at a percentage of export sales. This cap has been removed. If you have previously stopped making EMDG claims due the performance metric, you may wish to revisit the potential for a claim for 2020.
R&D Tax Incentive
Our R&D Tax Incentive services are generally performed on a success-basis, which means no cost to you at all if the claim is not approved.
For companies with over a turnover under $20 million, it can deliver a cash benefit of up to 43.5%, for those with a turnover more than $20 million, the benefit is still significant at 8.5%.
You may be conducting research and development without knowing and not making a claim.
If you would like to make a claim, our specialist team will manage the entire application process, allowing you to stay focused on growing your business.
The Government has announced an extension to the deadline to lodge R&D Tax Applications for the year ended 30 June 2019. Under ordinary circumstances, the deadline is 10 months after year end i.e. 30 April 2020. The deadline has been extended until 30 September 2020.