The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. It provides a rebate of 50 cents for every dollar of export marketing expenses up to a maximum of $150k per year for up to 7 years.
The deadline for claiming expenses incurred (and paid ) in the 2012-13 financial year is 2nd Dec 2013. This year individuals will need to apply on line but will require an Auskey to use the online registration.
Here are a few tips for maximising your grant before this years deadline.
1. IP registration, overseas cost for Patents, Design Registrations and Trademarks
Most people wouldn’t think of this category but it’s true, you can claim trademark and IP registration costs associated with registering your product overseas. Australian IP registration costs are not eligible. This category is capped at $50k of expenses
2. Free Samples
Many businesses provide free samples in one form or another. Not only can you claim the wholesale cost of the product sample, but freight costs associated with getting your goodies to the customers are also eligible. Remember though, a heavily discounted item is not a free sample. No maximum applies.
3. Overseas Buyers
Is your product too large to send a free sample? Bring your potential overseas buyer to Australia and claim their airfare and accommodation. Showing a buyer how you make the goods could make them sign the deal. Alternatively, maybe your distributors or overseas representatives require further training. Fly them over to teach them first hand. Maximum claim $45k.
About the EMDG scheme:
- encourages small and medium sized Australian businesses to develop export markets
- reimburses up to 50 per cent of expenses incurred on eligible export promotion activities, above the first $10,000
- provides up to seven(7) grants to each eligible applicant up to a maximum grant of $150,000.
Treadstone can assist you in maximising your claim, preparing documentation to show Australian content and develop frameworks for efficiently managing ongoing EDMG claims. Contact us now to discuss how we can help you claim your export rebate 03 9008 5937.