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

innovationtax@ato.gov.au

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 rowena.ryan@industry.gov.au Visit www.business.gov.au Call the hotline on 13 28 46Level 1, 26 Marine Parade Southport, Qld 4215 Australia

Contact us