Australian Government assistance to innovate, grow & succeed

1. Australian Government assistanceto innovate, grow & succeed Rowena Ryan, Southern Qld & Northern Coastal NSW AusIndustry Business Services 29 August 2014

2. Selected programmes and services R&D Tax Incentive Entrepreneur's Infrastructure Programme Tradex Business.gov.au Small Business Advisory Service

3. Why would you do R&D? Innovative businesses are more: profitable; productive;and competitive R&D

4. 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)

5. 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 • Carry on business in Australia through a permanent establishment • public trading trust with a corporate trustee R&D

6. R&D activities R&D Project Core activities areexperimental activities Supporting activitiesdirectly relate to the core activities

7. 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

8. What is the application process? Step 1 Firms undertaking R&D or considering undertaking R&D assess their eligibility Step 2 Registration form: register R&D activities with AusIndustry Maintain records to substantiate activity and expenditure claims Step 4 Receive tax offset Step 3 Income tax return with the ATO

9. 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)

10. Entrepreneurs’ Infrastructure Programme 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 Business Management

11. Entrepreneurs’ Infrastructure Programme 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 Business Management

12. Entrepreneurs’ Infrastructure Programme 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 Research Connections

13. Entrepreneurs’ Infrastructure Programme 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 Commercialising Ideas

14. Tradex • Aims to make Australian exporters more competitive • Can provide significant cash flow benefits

15. business.gov.au Business Topics Grant Finder Advisor Finder Events Finder Directory of Government and Business Associations Business apps

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

17. Grants finder Helps locate grants and assistance programmes R&D

18. Advisor finder Finds government funded business advisory services

19. 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: AubEardley Mb: 0414 316 587

20. 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