Media release from the Australian Minister for Foreign Affairs and Trade: 1 July 2010
The Export Market Development Grants (EMDG) scheme, administered by Austrade, assists small and medium sized Australian businesses to become sustainable exporters by providing partial reimbursement of some export promotion expenses.
From 1 July 2010, the maximum amount initially payable for eligible expenses incurred in the grant year 2009-10 under the EMDG scheme will be $27,500.
This is the maximum amount that will be paid as an initial installment to eligible EMDG applicants upon assessment of their grant application.
Grant recipients for the 2009-10 grant year with an entitlement up to and including $27,500 will be paid in full.
Recipients with entitlements above this amount will receive a second payment at the end of June 2011.
In accordance with the usual and well established practice, the amount of the second payment will be determined at that time.
The Government provided additional funding to the EMDG scheme in the 2008-09 and 2009-10 financial years. In each of these years, $200 million was appropriated for the scheme.
As the Government announced in the 2009-10 Budget, the appropriation for the EMDG scheme for 2010-11 is $150 million. This reflects the Government’s strategy of returning the federal budget to surplus within three years.
Given these circumstances, an initial maximum payment amount of $27,500 provides the most equitable distribution of grant funding within the available budget. It also reduces the risk of demand exceeding the available funding to enable all first round successful grant entitlements to be paid.
Last year it was $50,000 first payment. All EMDG applicants should make themselves aware of how this effects their EMDG rebate.
To find out how Treadstone can help you with your EMDG application for 09/10 year contact us on 03 9016 3575.
Treadstone is a member of the Australian Export Consultants Group and the Australian Institute of Export.