Interested in Grants

INDUSTRY ASSISTANCE - GOVERNMENT GRANTS  - Join us at a forum to hear more 

 

Join us next week to hear about how to maximise grants https://events.humanitix.com/export-market-development-grants-october-forum-powered-by-bbg

Export Market Development Grant (EMDG) - applications close 30th November for forward funding over the next 2 – 3 years under the new EMDG program – don’t miss out

Modern Manufacturing Initiative (MMI) - applications for Round 2 of the Integration and Translation funding streams will be announced soon – prepare now and don’t miss out

Modernisation Manufacturing Fund (MMF) - applications for Round 3 will open in early December – prepare now and don’t miss out

 R&D Tax Incentive - applications for 20/21 financial year R&D activities close on 30th April 2022 – prepare now and don’t miss out   

Export Market Development Grant (EMDG)

Under the new EMDG program, eligible SMEs are able to apply for forward grant funding over multiple years to cover eligible marketing and promotional activities from 1 July 2021.

Grants will target eligible export-ready SMEs with an annual turnover of less than $20 million at three stages of their export journey:

• Tier 1: Eligible SMEs who are new to export – grants up to $80,000 over two years
• Tier 2: Eligible exporters who plan to expand their presence in export markets – grants up to $240,000 over three years
• Tier 3: Eligible exporters who continue to expand into new markets and make a strategic shift in their exporting business – grants up to $450,000 over three years

The nominal benefit of the new pre-approval EMDG is to provide certainty of finance to exporters as well as faster access to EMDG funds. The intention is for applicants to submit marketing plans for up to three years to enable them to formalise Funding Agreements with Austrade, identifying which of their proposed export marketing expenses will be supported, with payments to be made by Austrade on a milestone basis. The EMDG program is an entitlement program.

Peter,  Harvey and the team at BSI have been helping exporters maximise their grants for 20 years.

With this new programme - they will help you prepare  your export plan, a marketing budget lodge the application, help you with your reporting of your  milestones to Austrade and take you through your Audit of your milestones.

 

There are 2 interesting competitive based Manufacturing grants that the government is focusing on worth over $1 billion dollars

R&D Tax Incentive

Applications to claim 20/21 financial year R&D activities/ expenses close on the 30th April 2022 – the new rates of return are:  

FY 2020–21

·        Annual revenue <$20m – Company Tax Rate: 26% – Refundable Tax Benefit: 43.5% (if matched by tax losses) or 17.5% (when trading in profit)

·        Annual revenue $20m-$50m – Company Tax Rate: 26% – Non-Refundable Tax Offset: 12.5%

·        Annual revenue >$50m – Company Tax Rate: 30% – Non-Refundable Tax Offset: 8.5%

FY 2021-22

·        Annual revenue <$20m – Company Tax Rate: 25% – Refundable Tax Benefit: 43.5% (if matched by tax losses) or 18.5% (when trading in profit)

·        Annual revenue $20m-$50m – Company Tax Rate: 25% – Refundable Tax Benefit/2 tier benefit: 8.5% on eligible R&D expenditure which accounts for up to 2% of total company expenses and an additional 16.5% on eligible R&D expenditure exceeding the 2% baseline.

·        Annual revenue >$50m – Company Tax Rate: 30% – Refundable Tax Benefit/2 tier benefit: 8.5% on eligible R&D expenditure up to 2% of total company expenses and an additional 16.5% on eligible R&D expenditure exceeding the 2% baseline.

A few other interesting Grants 

Modern Manufacturing Initiative (MMI)

The $1.38 billion Modern Manufacturing Initiative (the initiative) is a key element of boosting Manufacturing capabilities and networks in Australia  with a view to build manufacturing capabilities and networks, lift productivity, create jobs, build global competitiveness and boost the export potential of Australian manufacturers.

and will run from  2020-21 to 2023-24. 

These grants will be assessed under three funding streams:

Manufacturing Translation Stream: commercialising research 

The minimum grant is $1m and the maximum is $20m. Capital investment is included.   

Manufacturing Integration Stream: connecting with global supply chains 

- the grant rate is 50% of eligible project costs. The minimum grant is $1m and the maximum is $20m. Capital investment is included.   

Manufacturing Collaboration Stream: 

connecting business, researchers, and investors to build commercial outcomes

 – the grant rate is 1/3 of eligible project costs. 

The minimum grant is $20m and the maximum is $200m. Capital investment is included.   

This scheme is project based is competitive 

The six national priority manufacturing sectors who can apply are:

Space, Medical Products, 

Resource Technology and Critical Minerals Processing, 

Food and Beverage, 

Defence, 

Recycling and Clean Energy

This scheme is project based is competitive 

Round 1 of this grant is now closed

HOWEVER

Round 2 plans to be open before Christmas with a 4 week window to apply. 

Let me know if you want us to let you know when this Round will be open 

If you are project-ready and in one of the six priority sectors, this forum is for you!

 

Manufacturing Modernisation Fund (MMF)

The Manufacturing Modernisation Fund (MMF) provides competitively assessed grants of up to $1m being 25% of total project costs to assist local SME manufacturers within the 6 national manufacturing priority sectors to modernise their factory by purchasing and installing new state of the art plant and equipment and upskill/ employ new staff.

Round 3 will open in December this year and close in late January. 

If this forum is for you, let us help you prepare your  project plans and application NOW to ensure a truly competitive application can be lodged.

 

 Peter, Harvey, Kylie, Linda, Sean, Mick and Linh and the team at BSI are working with Businesses now to prepare the necessary documentation in anticipation of the Round 2 opening dates.