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Round two of the Future Fuels Fund is now open to support demonstration and deployment projects of commercial fleet businesses adding Zero Emission Vehicles (ZEV) and associated infrastructure.
Focused on post-COVID recovery, Queensland is actively investing in industry to promote growth and create jobs in the state. There are four key funding programs available to growing businesses that operate in the priority industry sectors below.
The continued pressure on businesses to grow, while riding the current wave of uncertainty, has shone a light on programs like the NSW $250m Jobs Plus program as a mechanism to support these ambitions.
The ATO has recently undertaken a number of Income tax, Transfer Pricing, GST and R&D reviews of Fintechs across the ‘Top 1000’ and the ‘Medium and Emerging’ markets, focusing on business models such as online lenders, neo banks, buy now pay later providers, and peer-to-peer lenders. Based on the findings, the ATO has identified a number of key risk areas.
In addition to recent Federal and States’ business financial support packages and loans – including JobSaver for NSW and Victorian businesses and Jobs Plus Program in NSW – there has been more news from the Morrison Government around additional help to small and medium sized businesses (SMEs).
Some welcome news for many businesses in New South Wales and Victoria, with some key COVID-19 business support programs in these lockdown-impacted states now tax-free.
In consultation with patent attorneys from Griffith Hack, we have applied our expertise across patent law, R&D tax, corporate tax and industry specific knowledge to consider the challenges and opportunities for patent box here in Australia.
NSW and Federal Government co-fund COVID support package
On Tuesday 29 June the NSW Treasurer Dominic Perrottet announced a major grants package for businesses affected by the recent COVID-19 outbreak and ensuing two week lockdown.
It's estimated that around 30% of cross border trade is conducted via companies who are accredited in the Australian Trusted Trader program. The Government intends to increase this to 75% by 2025. Learn more the benefits of accreditation.
The Export Market Development Grant (EMDG) program this year is different to any other year. With both the existing scheme and the new reform model in operation at the same time, applicants will have to submit two applications for EMDG if they want to access both programs over the next 3 months.
From 1 July 2022, digital games developers will be able to access a 30% refundable tax offset on qualifying expenditure. While details are still thin, Sukvinder Heyer shares what we know about this game changing announcement so far.