The Federal Government's Export Market Development Grant (EMDG) program is now open for applications
The Export Market Development Grants (EMDG) program is a key Australian Government financial assistance program aimed primarily at aspiring and current exporters.
The program encourages Australian businesses (with income of up to $50 Million) to develop export markets by reimbursing up to 50 per cent of eligible export promotion expenses above $10,000, provided the total expenses are at least $20,000. The maximum grant for eligible applicants is $150,000 (subject to funds available in the program). For example, if total eligible expenses were $55,000, the provisional grant entitlement would be $27,500.
To be eligible for the program applicants must be seeking to export goods, services, Intellectual Property (IP) or know-how.
Eligible expenses include overseas marketing visits, hiring marketing consultants, overseas representatives, communication costs, promotional literature/advertising and some international patent expenses.
The promotional activities do not have to take place after the finished product is available. They may take place during the development phase so there is an existing market for the goods / services / IP once complete.
There currently remains a maximum of seven grants available to eligible applicants over the life of the business, although the Government was trying to change the rules, but the Bills have not yet passed.
Applications for the 2012-2013 grant year will be open until 2 December 2013.
To understand if you could be eligible for an EMDG please contact your current Hanrick Curran Adviser on 07 3218 3900 or ask for our Tax Partner Jamie Towers.