Australian Government assistance
to innovate, grow & succeed
Rowena Ryan, Southern Qld & Northern Coastal NSW
AusIndustry Business Services
29 August 2014
Selected programmes and services
•
R&D Tax Incentive
•
Entrepreneur's Infrastructure Programme
•
Tradex
•
Business.gov.au
•
Small Business Advisory Service
Why would you do R&D?
Develop
new
products &
services
Innovative
businesses are
more:
• profitable;
• productive; and
R&D
Improve
business
processes
• competitive
Solve
problems
and
improve
efficiency
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)
R&D entity
What business
can claim the
R&D Tax Incentive?
•
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
- CarryR&D
on business in Australia through a
permanent establishment
•
public trading trust with a corporate trustee
R&D activities
R&D Project
Core activities
are experimental
activities
Supporting activities
directly relate to the
core activities
Project
Core Activity
Supporting
Activity
Supporting
Activity
Core Activity
Supporting
Activity
Eligible expenditure
• 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
What is the application process?
Step 1
Firms undertaking
R&D or considering
undertaking R&D
assess their
eligibility
Step 4
Receive tax offset
Step 2
Registration form:
register R&D activities
with AusIndustry
Maintain records to
substantiate activity
and expenditure
claims
Step 3
Income tax return
with the ATO
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)
Entrepreneurs’ Infrastructure Programme
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
Tradex
•
•
Aims to make Australian exporters more competitive
Can provide significant cash flow benefits
Up-front exemptions from
customs duty and GST
Imported goods intended for
export
Imported goods
incorporated into other
goods to be exported
business.gov.au
•
Business Topics
•
Grant Finder
•
Advisor Finder
•
Events Finder
•
Directory of Government and Business Associations
•
Business apps
Business topics
All areas of starting,
running and
growing your
business, including
videos, templates
and checklists
R&D
Grants finder
Helps locate grants
and assistance
programmes
R&D
Advisor finder
Finds government
funded business
advisory services
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
Local Provider:
Northern Rivers BEC (NORBEC)
- business planning
Ph:02 6622 1933
- mentoring for business
Business Adviser: Aub Eardley
- government regulation
Mb: 0414 316 587
Contact us
Department of Industry | Business
Name Rowena Ryan
Phone 07 5503 1601
Email rowena.ryan@industry.gov.au
Visit www.business.gov.au
Call the hotline on 13 28 46
Level 1, 26 Marine Parade
Southport, Qld 4215 Australia