Innovation Drives the worlds future.
Lack of funds is of course the most common reason most inventions or new business ideas never see the light of day. Our Grant Works Team has a cost conscious mind set and aware of the day to day financial pressures businesses face.
We have heard this many times before and will be happy to run you through the many options available to small to medium businesses. We embed ourselves in the new idea or product to fully understand how to maximise grants.
We are confident our approach will bring you relief and you can get your enthusiasm and motivation back.
Our team can help!
This is a Australian Government Scheme designed to encourage individuals and businesses to develop new products and seek out “new knowledge”.
There are strict qualifications for this scheme and record keeping of all directly related R & D development expenses is required.
The ATO will allow increased rates of tax deductibility (currently 143.5%) for R & D related expenses occurred during the year. Registration for the scheme and approval is required in a simple straight forward process.
Our Team is well qualified to assist you in this regard.
There are any number of grants from Local, Regional, State or Federal Governments available at any one time and are too numerous to mention.
Once your project is known our Grant Works Team can help search out a grant that may suit your needs.
Grants are usually on a one for one basis but occasionally they are two to one in the early risk stage. (Government puts in $2 and business puts in $1).
There are a plethora of Local (smaller), Regional, State and Federal business grants programs for development of new business concepts and new ideas, but they have strict compliance requirements.
Care needs to be taken when selecting the type of grant sought as some may effect the ATO Income Tax Concession Scheme and some are taxable and others are not taxable.
Grants mostly focus on items such as import replacement, local employment and possible export opportunities.
Income Tax Incentive Scheme and grants can co exist.
The grants process is a whole industry on its own and needs articulate planning before proceeding
Your Grant Works Team is well versed in helping with this process.
Business grants can be very competitive as limited funds can restrict availability. You will need articulate planning and well drafted grant application to maximise the opportunity and give yourself an unfair competitive advantage.