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

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 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   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 2 Registration form: register R&D activities with AusIndustry Step 3 Income tax return with the ATO Step 4 Receive 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

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All areas of starting, running and growing your business, including videos, templates and checklists Business topics R&D

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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: Business Adviser: Aub Eardley Mb:

Department of Industry | Business Name Rowena Ryan Phone Visit Call the hotline on Level 1, 26 Marine Parade Southport, Qld 4215 Australia Contact us