Various
forms of grants are available to assist early stage businesses and beginning
exporters.
Export market development grants (EMDG's) are a
long running Federal Government program designed to assist new exporters. They
provide a grant of up to 50% of expenses incurred in relation to launching and
developing export markets, covering expenses such as:
- Overseas promotion and travel costs
- Trade fairs
- Marketing visits
- Promotional literature and advertising
- Visits from overseas buyer
- Intellectual property registration and insurance costs
The grants are available on the basis of funds
being spent and then claimed. There are a set of detailed criteria for
eligibility, mainly to prevent any rorting of the system, but any Australian
resident IP developer or manufacturer is very likely to be eligible. There are
caps on the maximum and minimum amount that can be claimed, and on the
size of business (turnover under $50 million).
As a bonus, in the first year you can claim
expenses back for the last two tax years, which could be a great head start for
any emerging exporter.
Intellectual property expenses which are allowed
include those which relate to registration of patents, trade marks, designs,
plant breeder’s rights, and copyright. It does not cover expenses relating to
Australia or New Zealand, but it does cover the costs of seeking protection
in other countries, including your Australian attorney’s fees, official fees
and foreign attorney costs.
For more information, contact us or to http://www.austrade.gov.au/What-Is-EMDG/default.aspx
It is important to understand that costs must be
incurred in this financial year and paid for this year to be claimable, so if
there is anything about to be due, you can bring the action (and expense)
forward and claim it this year.
Peter Franke
No comments:
Post a Comment