News 
The news in grant circles is that the Government is introducing a new Tax Credit system this year to replace the R&D Tax Concession program.
Consultation is underway and much interest has been provided by interested stakeholders.
The second consultation guide is available here for download
R&D Tax Credit - Second ED Consultation Guide.pdf (151 KB)
Enterprise Connect
Enterprise Connect is an Australian Government initiative that provides comprehensive support to eligible Australian small and medium sized enterprises (SMEs).
Core services include business reviews at no cost to firms for eligible businesses and grant assistance to implement recommendations flowing from the business reviews. Inventure can assist Companies that comply with Enterprise Connect requirements to define and construct a successful application for assistance under this scheme.
For further detail and assistance from Inventure’s experienced team Contact Us or complete an Enquiry Form
Re-Tooling For Climate Change
The Re-tooling for Climate Change program is one of the three elements of the $240 million 'Clean Business Australia' initiative. The other elements are the Climate Ready Program and the Green Building Fund.
The Re-tooling for Climate Change program will help small and medium sized Australian manufacturers reduce their environmental footprint, through projects that improve the energy and/or water efficiency of their production processes. The program provides grants of between $10,000 and $500,000, to a maximum of half of the cost of each project.
For further detail and assistance from Inventure’s experienced team Contact Us or complete an Enquiry Form
R&D Tax Incentive Scheme
The R&D Tax Concession is a Commonwealth Government initiative to increase the amount of research and development (R&D) undertaken in Australia. The aim is to encourage innovative, competitive and export oriented Australian industries.
The concession is available to all Australian companies and offers the following:
A tax deduction of up to 125% of expenditure incurred on R&D activities. This includes but is not limited to capital, labour, contractors and other expenses directly related to the R&D activities undertaken during the 2009 financial year.
A premium concession of 175% for companies increasing their R&D expenditure and who have a three - year history of registered R&D activity or of receiving Grants under the Commercial Ready or R&D Start programs.
Who is Eligible to apply?
The R&D Tax Concession program is available for Companies who:
Are a Company incorporated in Australia and not acting as a trustee for a trust (other than a public trading trust).
Have expended more than $20,000 in the last financial year.
Have a grouped expenditure of up to $1 million for an income year between 2002 and 2009.
Have a group annual turnover of less than $5 million.
Are in possession of a prepared and maintained R&D plan compliant with Innovation Australia Guidelines, with records that substantiate the carrying on of these activities.
Control and own the R&D results which are beneficial to Australia and will be exploited on normal commercial terms.
From 2010, the current R&D Tax Concession is expected to change, with a more rigorous test and greater returns to Companies who comply. There are likely to be increased turnover limits and R&D spend, with less sensitivity to IP ownership.
For further detail and assistance from Inventure’s experienced team Contact Us or complete an Enquiry Form