Innovation Drives the worlds future.
Lack of funds is the most common reason most inventions or new business ideas never see the light of day. It does not have to be that way and your Grant Works Team has a cost conscious mindset and aware of the day to day financial pressures and limited funding businesses face and our fees reflect that.
We are confident our approach will recharge your enthusiasm and motivation for your business and new idea.
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, which will soon become evident when talking to us.
This very attractive scheme, is an entitlement for any business with a new idea, concept or system.
There are any number of grants from Local, Regional, State or Federal Governments available at any one time and are too numerous to mention. However accessing them and knowing exactly how to approach the grant process is often very tricky and results in rejection even for great new products or idea applications.
Our Grant Works Team can help search out a grant that may suit your needs and help you manage the grant process yourselves or we can manage it for you.
Grants are usually on a one for one basis one for one dollar) 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 and we can help sort through these issues quickly and easily.
Care needs to be taken when selecting the type of grant as some may effect the ATO Income Tax Concession Scheme if you have applied for that scheme also 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, particularly when you are starting out or a small operator.
Whether you are a tradie or a housewife with a good idea your Grant Works Team is well versed in helping you with your grant funding applications.
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.