Government Assistance Grants

R&D tax concessions

The R&D Tax Concession is the Commonwealth Government’s principal initiative to enhance and increase the amount of R&D being conducted in Australia. The Concession enables Australian companies to deduct up to 125% of eligible expenditure incurred on R&D activities from assessable income when lodging their tax returns. A 175% Premium (Incremental) Tax Concession and R&D Tax Offset is also available in certain circumstances.

To be eligible for the concession, the following requirements must be satisfied:

• The company must be incorporated in Australia;
  
• The R & D activities undertaken must include:
  
• A technical problem that cannot be resolved on the basis of publicly available information;
  
• An original idea; or
  
• Experimentation in the form of testing or trials to resolve the technical uncertainty;
  
• The company must bear both the financial and technical risk associated with the R & D;
  
• The company must have control over the project and own the results; and the results of the R & D activities must be exploited on normal commercial terms and to the benefit of the Australian economy

This information is intended as a guide only. Should you wish to discuss any aspect of the R&D Tax concession, please feel free to contact our Consulting division on 07 3854 1227 or 1300 139 454.

EMDG – Export market development grants

The Export Market Development Grants (EMDG) Scheme is designed to assist Australian residents in the overseas marketing of their goods, services, and intellectual property or know how, which are substantially of Australian origin. The Scheme is administered by the Export Grants Division of the Australian Trade Commission (Austrade).

Grants may be claimed by individuals, companies, partnerships, as well as approved joint ventures, consortium trading houses, authorities and associations.

This information is intended as a guide only. Should you wish to discuss any aspect of the EMDG, please feel free to contact our Consulting division on 07 3854 1227 or 1300 139 454.