The federal Government has confirmed in the May 2014 Budget that the boost the Export Market Development Grants (EMDG) scheme by $50 million to help small and medium sized businesses will remain.
Legislation was introduced into the Parliament to pave way for the $50 million increase and to also make the program more accessible to businesses by enhancing eligibility requirements for the FY2014 EMDG applications.
The key changes to the EMDG scheme are positive and will result in a bigger rebate for all applicants:
- The number of grants able to be received by an applicant has increased from seven to eight
- The minimum expenditure to apply each year is reduced to $15,000 (was $20,
- The rebate is now calculated as 50% above the first $5,000 (was $10,000)
- Grants can now be paid more quickly where a grant is determined before the 1 July following the balance distribution date
The Export Market Development Grants (EMDG) scheme is a key 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 $150,000 per application year.
For FY2013-14 expenses the program is open from 1st July 2014 till the deadline of 1st Dec 2014. This year individuals will need to apply on line but will require an Auskey to use the online registration. Applications after the deadline will only be accepted if submitted through approved consultants.
For assistance with your EMDG grant application and to maximise your rebate call Treadstone on 03 9008 5937 or email us.