1. Research and Development Tax Incentive
The R&D Tax Incentive aims to help businesses stay ahead through a 43.5% tax offset that encourages innovation, boost company competitiveness, improve productivity and ultimately stimulate the national economy.
Companies with an annual turnover under $20 million can claim a 43.5% refundable tax offset. For companies with a group turnover of $20 million and above can claim a 38.5% non-refundable tax offset.
For R&D expenditure under $20,000, companies can only make a claim if it was undertaken with a research service provider or co-operative research center.
Companies must register for R&D activities within 10 months of their income year first.
Refundable tax offset
Non-refundable tax offset
2. Tax Incentives for Early Stage Investors
From 1 July 2016, if you invest in a qualifying early-stage innovation company (ESIC), you may be eligible for tax incentives.
The tax incentives provide eligible investors who purchase new shares in an ESIC with a non-refundable tax offset equal to 20% of the amount paid for their qualifying investments.
This is capped at a maximum tax offset amount of $200,000 for the investor and their affiliates combined in each income year.
Maximum tax offset amount
Non-refundable tax offset
3. Small-Scale and Craft Program
Small-Scale and Craft Program aims to help small-scale producers, craft brewers, and distillers to grow and increase their market opportunities. Benefiting the Victoria region by delivering high-value produce, creating new job opportunities and economic development through tourism.
Two streams of funding are currently open under the program:
Stream One – Small-Scale and Craft Business Development: Grants up to $25,000 available for projects that support businesses to expand their operations and diversify their products.
Stream Two – Job Creation and Economic Development: Grants of $25,000-$200,000 available for projects that will deliver benefits to the community and generate jobs.
In order to apply, applicants must meet eligible criteria such an Australian Business Number (ABN), be registered as a business in Victoria, be a legal entity, operate a small/micro agribusiness within the small-scale and craft sector and more.
Steam One applications must be submitted by 6 December 2019.
Stream Two is open for expressions of interest only and close on Tuesday 31 December 2019.
Stream One Small-Scale and Craft Business Development
Stream Two Job Creation and Economic Development
4. Export Market Development Grant (EMDG)
The EMDG has been set up for aspiring and current exporters across a wide range of industries and products to help drive new outbound markets from Australia and encourage inbound tourism.
For businesses that have spent $15,000 or more on export promotion, they can be reimbursed up to 50% of costs exceeding $5000.
Aimed at SMEs (under $50 million turnovers) to develop export markets. Includes Goods, Services, Tourism, Arts, Education, Industry bodies, IP (royalties).
Applications lodged by QIP consultants are open till midnight, 28 February (or next business day) and self-lodged applications close on 30 November.
Reimbursed of eligible export promotional expenses
Cash refund up to
5. Entrepreneurs’ Programme
The Entrepreneurs’ Programme, aims to help businesses increase productivity and competitiveness.
The programme offers entrepreneurs grants through the Accelerating Commercialisation fund and Business Growth Grants.
Accelerating Commercialisation Grant
The Accelerating Commercialisation Grant offers to cover up to 50% of the costs for eligible projects. This funding is capped at a maximum of $250,000 for commercialisation offices and eligible partner entities and $1 million for all other applicants
Entrepreneurs can also apply to get expert technical advice on their ventures to address knowledge gaps and speed up growth via Innovation Connections.
Incubator Support Funding
Additionally, the Entrepreneurs’ Programme offers – Incubator Support Funding up to $500,000 to help start-ups enter global markets.
Costs for eligible projects
Incubator Support Funding up to
6. Manufacturing Modernisation Fund
Manufacturers seeing adopt new technologies, create employment opportunities and increase productivity through capital investment. Co-funding of between $50,000 and $1,000,000 is available to support SME’s in projects to modernise their manufacturing processes.
To be eligible for this grant, you must be an entity incorporated in Australia and engage in trading activities to a degree that they are a significant proportion of activities or large enough that they are not a peripheral activity of the business. SME’s with up to 199 employees can apply if a clearly identifiable level of job creation is expected as a result of the project.
Funding is available through two streams: Small grants of between $50,000 and $100,000 to support technology and efficiency improvements, and Larger grants of between $100,000 and $1,000,000 to support transformative investment in technologies and processes.
Applications must be received by 5:00 pm AEDT on 31 October to be considered.
Small Grants up to
Large Grants up to
7. Agriculture Energy Investment Plan (AEIP)
An on-farm energy grant is a part of implementing the $30 million Agriculture Energy Investment Plan. Supporting businesses to improve energy efficiency, manage energy costs and support their own-generation capacity.
The AEIP contains: On-Farm Energy Assessments analyse on-farm energy use and identify opportunities to make energy savings and improve output volumes. Recommendations are tailored to the type and size of farms.
On-Farm Energy Assessments (independent expert advice on how to reduce energy use, improve energy efficiency and manage energy costs.)
On-Farm Energy Grants are tailored to suit the investment needs of differing farm operations. Support projects that will improve energy efficiency and boost energy productivity.
On-Farm Energy Tier 1 Grants (funding of up to $50,000)
On-Farm Energy Tier 2 Grants (funding of between $50,000 and up to $250,000)
On-Farm Energy Tier 3 Grants (funding of between $250,000 and up to $1 million)
The program is currently open for applications and will close in:
On-Farm Energy Tier 1 Grants up to
On-Farm Energy Tier 3 Grants up to
Contact us and speak to one of our experts regarding government programs applicable to your business.
Suite 15/8 Tuck Street
Moorabbin VIC 3189
(03) 9555 3551