R&D and EMDG Updates – March 2021

Below are updates of R&D Tax Incentive Program and the Export Market Development Grant (EMDG)

R&D Tax Incentive Program

R&D tax incentive applications for the tax year ended 30 June 2020 are due for lodgement with AusIndustry by 30 April 2021.

This is a use it or lose it deadline !

For companies that still haven’t lodged their annual claim this should be viewed as a priority in order to unlock valuable non-dilutive funding into their business that could assist with the disruption caused by the COVID-19 virus and transitioning out of Jobkeeper.

Prime are happy to talk to any clients that may not have claimed in the past and require an eligibility assessment.

Export Market Development Grant

Applications for expenditure incurred during the current financial year ended 30 June 2021 under the existing EMDG programme can be lodged with Austrade from 1 July 2021.

This long running grant provides exporters with an annual reimbursement of up to $150k – based on 50% of their eligible promotional expenses. We are still waiting for confirmation if the export earnings test will apply to applicants submitting their 3rd – 8th applications.

There are several expense categories including online advertising, appointment of overeas reps and securing overseas patents and trademarks. 

Prime can assist clients navigate the existing EMDG programme and start planning and collating documentation to submit their final annual claim from 1 July 2021 to gain access to the available funding as soon as possible.

We are also waiting for final announcements regarding the operation of the new EMDG scheme that will apply for expenditure incurred after 1 July 2021 and will hopefully be able to advise details shortly.

For any enquiries or support:

Melbourne team

Brisbane team

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