Australian Government assistanceto innovate, grow & succeed
Rowena Ryan, Southern Qld & Northern Coastal NSW
AusIndustry Business Services29 August 2014
Selected programmes and services
• R&D Tax Incentive • Entrepreneur's Infrastructure Programme• Tradex• Business.gov.au• Small Business Advisory Service
Innovative
businesses are
more:
• profitable;
• productive; and
• competitive
Develop new
products & services
Improve business
processes
Solve problems
and improve
efficiency
Why would you do R&D?
R&D
R&D Tax Incentive
• Generous and easy to access tax offset open to businesses in all industry sectors
– refundable tax offset if aggregated turnover is less than $20 million– non-refundable offset – notional deductions for all other eligible entities
• Jointly administered by;- AusIndustry (on behalf of Innovation Australia); and- The Australian Taxation Office (ATO)
What business
can claim the
R&D Tax Incentive?
R&D entity
R&D
• incorporated under an Australian law
• incorporated under foreign law, resident in Australia
• incorporated under foreign law and- Have a double tax agreement with Australia; and- Carry on business in Australia through a
permanent establishment
• public trading trust with a corporate trustee
R&D activities
Project
Core Activity
Supporting
ActivitySupporti
ng Activity
Core Activity
Supporting
Activity
R&D Project
Core activities are experimental
activities
Supporting activities directly relate to the
core activities
• minimum expenditure $20,000
• expenditure incurred on R&D activities
• decline in value of depreciating assets used in R&D activities; and
• balancing adjustments for depreciating assets used only in R&D activities
www.ato/gov/au/randdtaxincentive
Eligible expenditure
What is the application process?
Maintain records to substantiate activity
and expenditure claims
Step 1
Firms undertaking R&D or considering undertaking R&D assess their eligibility
Step 2Registration form:register R&D activities with AusIndustry
Step 3Income tax returnwith the ATO
Step 4Receive tax offset
Entrepreneurs’ Infrastructure Programme
• Practical support for businesses;
– Advice from people with relevant private sector experience
– Small co-contributions for re-engineering or growth opportunities for business
– Connection and collaboration opportunities
• Programme offers support to business through three streams;
– Business Management (starts July 1, 2014)
– Research Connections (late 2014)
– Commercialising Ideas (late 2014)
Business Management
• Business Evaluation– Holistic analysis of an eligible business including;
• Business direction and strategy• Industry standing and market position• Business performance
– Eligibility• ACN• Be solvent• Meet minimum turnover thresholds• Trading for more than 3 years• Operate in specific industry sectors or remote Australia
Entrepreneurs’ Infrastructure Programme
Business Management
• Business Growth Grants– Co-funded grants to engage a consultant to implement projects from your
Business Evaluation Report.– Maximum of $20,000 available– Reimbursed at the conclusion of your project
– Eligibility• Must have undertaken a Business Evaluation
Entrepreneurs’ Infrastructure Programme
Research Connections
• Will comprise business service and assistance for:- Business Growth - Supply Chains- Research Connections - Regional and Remote businesses
Under Design – design considerations
- Assess business research needs and identify suitable research partners – using research to solve business problems
- Support for targeted research for up to 12 months- Partnering opportunities between research institutions and business
Entrepreneurs’ Infrastructure Programme
Commercialising Ideas
Under Design – design considerations
- Commercialisation evaluation
- Qualified introductions and facilitation for firms seeking to access private capital
- Linking to markets and potential investors
- Network facilitation
- Financial support to facilitate progression of a new idea
Entrepreneurs’ Infrastructure Programme
Tradex
Up-front exemptions from customs duty and GST
Imported goods intended for export
Imported goods incorporated into other goods to be exported
• Aims to make Australian exporters more competitive• Can provide significant cash flow benefits
business.gov.au
• Business Topics
• Grant Finder
• Advisor Finder
• Events Finder
• Directory of Government and Business Associations
• Business apps
All areas of starting, running and growing your business, including videos, templates and checklists
Business topics
R&D
Helps locate grants
and assistance
programmes
Grants finder
R&D
Finds government
funded business
advisory services
Advisor finder
Small Business Advisory Service
Small businesses can access information and advice to
• establish;
• sustain; and/or
• grow their business
Advisory services may include;- business management skills- financial management skills- business planning- mentoring for business- government regulation
Local Provider:
Northern Rivers BEC (NORBEC)
Ph:02 6622 1933
Business Adviser: Aub Eardley
Mb: 0414 316 587
Department of Industry | Business
Name Rowena RyanPhone 07 5503 1601Email [email protected] Visit www.business.gov.au Call the hotline on 13 28 46Level 1, 26 Marine Parade Southport, Qld 4215 Australia
Contact us