A major warning from the Australian Taxation Office (ATO) has been issued about the possible loss of tax revenues of $16 billion if businesses return to just using cash for transactions. Some businesses are trying to avoid paying taxes by making this shift, which is part of a wider trend toward a cashless economy. Tax…
The Western Australian Government has taken a significant step towards transforming the economic landscape of Collie by committing $134 million from its WA Collie Industrial Transition Fund. This substantial investment aims to activate the Coolangatta Industrial Estate, paving the way for new job-creating industries and fostering economic resilience in the region. Detailed Project Timelines The funding…
Steel Fabricator Among New RED Grants in the Wheatbelt The Western Australian Government’s Regional Economic Development (RED) Grants program continues to play a pivotal role in enhancing regional business resilience and economic diversity. In its latest round of this grant program, 10 projects of the Wheatbelt region have been awarded funding totaling $1.16 million, showcasing…
In its first R&D tax incentive transparency report for the 2021–22 fiscal year, the Australian Taxation Office (ATO) revealed that corporations had made significant investments in R&D. This research offers insightful information about Australia’s innovation environment by examining in depth how businesses in a range of industries are utilising the R&D Tax Incentive program. Key…
Although many Australian small businesses are eligible for various grants, only some take advantage of the possibilities that are available. Every year, many businesses either are unaware of their existence or don’t understand how to apply for government funding, which results in an estimated $1 billion being unclaimed. To start a new initiatives, expand or…
Overview The South East Queensland (SEQ) Innovation Economy Fund aims to turn SEQ into a global leader in innovation. This fund is set to have a huge impact on the region’s innovation economy. With an investment of over $150 million, it will support capital projects that provide new and better innovation infrastructure. With this strategic…
A number of significant EMDG changes have been implemented to the Export Market Development Grant (EMDG) program with the goal of increasing the export potential of Australian businesses. Regarding the revised scheme, Austrade responded to important questions and concerns. The top ten updates for exporters to be aware of are as follows: 1) Clarifying Existing…
Another great news for Queensland’s small to medium-sized enterprises (SMEs). They now have an exciting opportunity to strengthen their innovation capabilities through the recently launched Regional University Industry Collaboration (RUIC) program. Delivered by the CSIRO and funded by the Queensland Government, the RUIC program is designed to assist academia and industry, helping SMEs turn advanced…
Introduction Signifying a giant step towards achieving its ambitious target of becoming a renewable energy superpower, the Australian government has just released the anticipated $1 billion Solar Sunshot program. Launched and administered by the Australian Renewable Energy Agency (ARENA), this tremendous program will help accelerate solar photovoltaic (PV) manufacturing in Australia and strengthen the nation’s…
Innovation and R&D are the lifeblood of any growing economy, and Australia has consistently recognised innovation and facilitated R&D across industries. The Research and Development Tax Incentive (R&DTI) program, a cornerstone of this recognition, is considered one of the best and most generous among other nations, underscoring the importance of your involvement in R&D. The…
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