The Government has injected an extra $49.8 million into the Export Market Development Grants (EMDG) program to support Australian Small Businesses.This funding will provide a full payout for FY19 rebates and a timely cash flow injection for exporters and tourism businesses within the scheme who were doing it tough.
‘The extra $49.8 million will bring EMDG funding to its highest level in more than 20 years at $207.7 million for the 2019–20 financial year (FY19 Grant year)’
Full payout of rebate FY19 year
All claimants are expected to receive full reimbursement for all eligible expenses.
- Applicants who have received a Tranche 1 NOD for FY19 expenses will receive 100% of their Tranche 2 Grant. (This is for Grants above $40,000). Austrade advised the payments will begin week commencing Monday 6th April 2020.
- Applicants yet to be audited or assessed will receive the full payout once processed.
Export Performance Cap waived for FY20 EMDG grant year.
Further, the Minister announced “Any business which has incurred eligible EMDG expense for promotional activities in 2019-20 financial year will be able to seek reimbursement of 50% of these expenses without the Export Performance Test applying, when they apply from July 1st [ 2020].” This means that for FY19-20 applications, there will be no capping of your Grant due to your Export Revenue (as was the case in the scheme from Year 3 applicants onwards). Applicants will be eligible for up to 50% of eligible expenditure.
Additionally, applications lodged in the FY2020-21 financial year can claim expenses even if events have been cancelled due to circumstances beyond a business’s control.
Treadstone provides assistance for businesses that wish to apply for EMDG. We are listed on the Austrade QIP program and able to submit until the extended deadline of 28th Feb each year. For expert advice, give us a call on (03) 9008 5937.
For further information please visit Austrade’s website:
www.austrade.gov.au/Australian/Export/Export-Grants
To view the Ministers announcement, please visit:
