Government Grants
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The Australian Government grants billions of dollars each year for the development and progress of the commercial and non-profit sectors. However, knowing how to obtain it and when to apply for it is the tricky part. You also need to know whether your business is eligible for a grant or not.
A range of government grants is available to businesses irrespective of size. Any business founder or leader should be aware of the following grants:
R&D Tax Incentive
R&D Tax Incentive is provided to those businesses specialising in research and development. The R&D Tax Incentive program is designed for eligible companies with tax offsets involving the costs of developing your innovation. Since the 2021 federal budget, a shift in the attitude toward the R&D sector has been prevailing. Companies overseas want to establish themselves in Australia and invest more in the industry.
Export Market Development (EMDG)
If you are planning on expanding your business through exports or looking to grow your venture as an exporter, this is for you. The Export Market Development (EMDG) is to assist small and medium Australian companies in establishing their export market. You can be eligible for 50% off promotional expenses up to $150,000 annually.
Early Stage Innovation Company (ESIC)
Early Stage Innovation Company (ESIC) is a tax incentive for investors referred to as “angel investors”, offering them generous tax breaks. These eligible investors purchasing shares in an ESIC business enjoy a 20% tax offset capped at $200,00 and more benefits. Before buying shares, you must confirm your tax break by doing a prior inspection. Maintaining proper documentation that you can rely on for years in case the Australian Tax Office (ATO) conducts a review is vital too.
Federal and State Government Grants
The Australian Government offers grants, funding, and support programs administered by the Federal Government that are available for businesses operating in all industry sectors. However, at the state level, priorities in funding can be different.
Our teams of experts with a combined experience of over 10 years can help you set up everything from the eligibility process to submitting applications. We will be able to identify the right kind of grants for your business and help you get on your feet. Reach out to us and get started!
Delivery Time Frame
Price
From $600 + GST (Government Grants)
For and question or queries call us now at 1300 088 710 (Inside Australia) / +61 02 7228 1315 (Outside Australia) or for Free Consultation booking , click here.