At Altias Advisory, we are committed to supporting Queensland manufacturers by simplifying access to specific manufacturing grants and R&D tax incentives.
We’ve helped countless clients secure funding and save on tax, driving innovation and growth in their businesses.
Keep reading to learn how you can effectively utilise these opportunities to foster a competitive edge.
Export Market Development Grants (EMDG)
The Export Market Development Grants (EMDG) program is designed to assist Australian businesses in expanding their reach into international markets.
This grant provides financial support for up to 50% of eligible export promotion expenses, such as advertising, marketing visits, and trade fair participation.
It’s a valuable resource for manufacturing businesses looking to grow their presence overseas while reducing the financial risks associated with international expansion.
Eligibility Criteria
To be eligible for the EMDG, your business must:
- Must be an Australian-based business with a focus on export.
- Meet the minimum financial turnover for your tier.
- Have the capacity to spend at least $20,000 of your own money on proposed eligible activities.
- Match your tier’s grant amount with your own funds.
- Must be promoting Australian goods, services, events, software, intellectual property, or know-how in international markets.
For more information about eligibility criteria, please see the Check eligibility and requirements for this program.
Application Process
There are 4 tiers of funding depending on your business. To get a better understanding of how to apply for the grant:
- Read the EMDG guidelines on the Guidelines and Legislation page.
- Review the EMDG eligibility requirements and choose the grant tier you will apply for.
- Submit your application through the EMDG online portal.
Incorporating the EMDG program into your business strategy can significantly reduce the financial risks of entering new markets, allowing your manufacturing business to grow its global footprint.
Industry Partnership Program
The Industry Partnership Program is a $415.5 million initiative designed to support Queensland’s manufacturing sector.
This program aims to foster innovation, create jobs, and boost economic growth by supporting projects that align with Queensland’s new-industry development strategy.
It focuses on key areas such as renewable energy manufacturing, critical minerals processing, battery industry development, green hydrogen production, resource recovery and recycling, and bio-economy advancements.
Eligibility Criteria
To be eligible for the Industry Partnership Program, your business must:
- Be located in Queensland
- Be unlikely to proceed without assistance, or, if the project is a discrete stage in a multi-stage project, it can be demonstrated that future stages will be brought forward
- Not have already commenced the project, for example, construction or operation
- Has a viable plan to achieve sustainable commercial operations
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For more information about eligibility criteria, please see this guidelines document.
Application Process
The application process for the Industry Partnership Program involves several steps:
- Review the program guidelines and eligibility criteria thoroughly
- Prepare a detailed project proposal outlining your objectives, expected outcomes, and alignment with program goals
- Submit an initial expression of interest through the online portal
- If shortlisted, you’ll be invited to submit a full application
- Participate in any requested meetings or provide additional information as required
- Await the assessment and decision by the program committee
Qualifying Projects
Projects that typically qualify for this program include:
- Establishing or expanding manufacturing facilities for renewable energy components
- Developing processing capabilities for critical minerals
- Investing in battery manufacturing or recycling infrastructure
- Creating green hydrogen production facilities
- Implementing innovative resource recovery and recycling technologies
- Advancing bio-economy initiatives, such as biofuel production or bio-based materials manufacturing
By leveraging the Industry Partnership Program, your manufacturing business can play a crucial role in Queensland’s industrial transformation, contributing to a more sustainable and competitive economy.
Research and Development (R&D) Tax Incentives
The Research and Development (R&D) Tax Incentive is a key program designed to encourage Australian companies to invest in R&D activities.
This incentive is particularly valuable for manufacturing firms engaged in innovative processes or product development.
It offers a tax offset for eligible R&D activities, providing a significant financial boost to companies investing in innovation.
The R&D Tax Incentive offers different benefits based on your company’s aggregated turnover:
For companies with an aggregated turnover of less than $20 million:
- A refundable R&D tax offset equal to your corporate tax rate plus an 18.5% premium.
For companies with an aggregated turnover of $20 million or more:
- A non-refundable R&D tax offset based on your R&D intensity:
- For eligible R&D expenditure up to 2% of total expenditure: Your corporate tax rate plus an 8.5% premium.
- For eligible R&D expenditure above 2% of total expenditure: Your corporate tax rate plus a 16.5% premium.
This incentive can significantly reduce your company’s tax liability, effectively subsidising your R&D efforts.
For smaller companies, it can even result in a cash refund if the offset exceeds your tax liability.
Eligibility Criteria
To be eligible for the R&D Tax Incentive, you must be able to prove that both your business and R&D activities are eligible for the incentive. your company must:
- Be incorporated under Australian law or be a foreign company resident in Australia for tax purposes
- Conduct eligible R&D activities
- Have a minimum R&D expenditure of $20,000 in the income year (unless using a registered Research Service Provider)
- Own the intellectual property resulting from the R&D activities or have the right to exploit it
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If you want to see the full lists, the R&D eligible activities and R&D eligible participant pages provide a comprehensive list of eligibility criteria you and your business will need to meet to apply for this incentive.
Application Process
Follow all of the instructions in this guide about how to apply to register with the R&D Tex Incentive
Looking for assistance with your grant or R&D tax incentive application?
At Altias Advisory, we are dedicated to helping Australian manufacturers harness the full potential of R&D grants and tax incentives.
By understanding and utilising programs like the Manufacturing Hubs Grant Program, Industry Partnership Program, ReMade in Queensland, and the R&D Tax Incentive, your business can drive innovation, improve productivity, and achieve sustainable growth.
If you’re looking for other ways to grow your business, we offer a range of accounting services for manufacturing companies that will help minimise tax, improve cash flow and boost profits.
Book a free discovery call or contact us directly today to learn how we can support your business’s growth and success!
