The NSW Government will cover the payment for regional NSW whilst the Federal Government will cover for greater Sydney. A loss of eight to 20 hours - $450 per week.Loss of work relief payments for individuals, no matter what classification, part-time or casual, from week four of the stay-at-home orders: This includes payments for individuals, sole traders and businesses. This is a non-competitive program providing tax benefits annually to all companies that invest in eligible R&D activities.In response to the July 2021 extended lockdown, the Federal Government and NSW State Government have announced support measures which are jointly funded for Greater Sydney and New South Wales (NSW).
Even the best word-smithed grant application will not be successful if the project mis-aligns with the grant’s objectives.įor those who do miss out on a particular grant program it is always worth considering whether you are eligible for the research and development tax incentive.
And importantly, don’t leave it to the last minute to seek advice. Identify how the investment will benefit your organisation and the broader economy. Ensure your project aligns with the Government’s agenda or roadmap. There are three key things I suggest you should consider when applying for a grant. Alternatively, there are many other targeted programs such as the $20bn Medical Research Future Fund, ARENA for renewables, Export Market development Grants for exporters or even bushfire recovery funds.
For entrepreneurs looking to commercialise a good idea, there’s hope for Round 9 of the popular Ignite Ideas Fund.įrom a Federal perspective, you are in luck if you are a manufacturer in one of the six priority sectors including the likes of Medical Products, Resources Technology and Clean Energy. For smaller scale projects, State Development’s Industry Partnership’s program may apply if your project aligns with the Government’s priority industry sectors which include the likes of Hydrogen, Aerospace and Beef Processing. Invested in Queensland, an initiative under the $3.34bn Queensland Jobs Fund, is providing financial and non-financial assistance to high impact, contestable projects that offer significant job creation. Nicola Purser is a tax partner at accounting and advisory firm, BDO in Brisbane, specialising in Research & Development.
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