The Export Market Development Grants (EMDG) Scheme is a Government assistance programme for small to medium businesses.
Accountants in Sydney have attested to the invaluable role of the EMDG scheme in facilitating their clients access to new markets and fostering improved international business and cultural understanding. The following information is outlined to clarify the available claims and the process of accessing concessions.
Who can apply?
An Australian business that has:
- Promoted the export of goods or services
- Promoted certain services in Australia to non-residents
- Promoted inbound tourism
- Promoted the export of intellectual property and know-how outside of Australia
- An income of less than $50 million
- Spent at least $15,000 on eligible export promotional activities
What can be claimed?
- Overseas representation expenses
- Marketing consultant expenses
- Marketing visit expenses
- Communication expenses
- Free sample expenses
- Trade fairs, seminars, in-store promotion expenses
- Promotional literature and advertising expenses
- Overseas buyer expenses
- Registration and/or insurance of eligible intellectual property expenses
What do you get?
- Up to 50% reimbursement of expenses, less the first $5,000
- Up to $150,000 per grant, to a maximum of eight annual grants (first-year applicants can include two years of expenditure)
- The grants are assessable income
- GST will not apply to EMDG scheme grants
What can’t be claimed?
Expenses that:
- Relate to trade with New Zealand, Iran or North Korea
- Are of a capital nature
- Relate to sales or product development
- Are fraudulent, unsubstantiated or related to an illegal activity
How to apply?
- Go to the website austrade.gov.au/Export/Export-Grants and select “How to apply.”
- Alternatively, phone Austrade on 13 28 78
When to apply?
- For the 30 June 2015 year, you need to complete and submit your online application by 30 November.
- Alternatively, use an approved EMDG consultant to lodge your claim until 29 February. We can help you with a referral in this regard.
Feel free to contact us if you need more information about concessions for exporting.
*Correct as of November 2015
Disclaimer – Kreston Stanley Williamson has produced this article to serve its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas in this article, you must seek advice about your circumstances. Liability is limited by a scheme approved under professional standards legislation.
