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From today, the initial payment ceiling (first round payment) of the EMDG scheme will be $50,000 for the 2010–11 grant year which just ended, compared with $27,500 in 2009-10.
The EMDG scheme is one of the ways in which the Australian Government provides assistance to small and medium-sized exporters. The grants reimburse exporters -up to a limit – for eligible expenses on the promotion and marketing of their international businesses.
According to Trade Minister Craig Emerson, reduced demand for EMDG grants over the previous grant year, coupled with changes to the scheme in 2010, have permitted a higher initial payment this grant year.
The initial payment ceiling is the maximum amount that will be paid as a first instalment to reimburse eligible EMDG applicants.
Initial payment ceiling amount
The initial payment ceiling amount is the maximum amount payable as an initial payment to eligible EMDG applicants. The initial payment ceiling for 2010-11 grant year is $50,000.
If your provisional grant entitlement is below the initial payment ceiling amount, you will be paid your full entitlement in one payment shortly after Austrade has determined your application.
If your provisional grant entitlement is above the initial payment ceiling amount, you will be paid:
- part of your entitlement in an initial payment equal to the initial payment ceiling amount shortly after Austrade has determined your application, and
- a second tranche payment at the end of the financial year
Second tranche payments
The value of your second tranche payment will be based on two factors:
- the amount of your provisional grant entitlement above the initial payment ceiling amount
- a payout factor that Austrade will determine at the end of the financial year based on the amount of EMDG funds remaining in the EMDG budget once all recipients’ initial payments have been made
You should not plan or make financial commitments which assume you will receive any particular level of second tranche payment for which you provisionally qualify. Austrade accepts no liability for any loss arising from the actions of an applicant who assumes any particular level of payment under the EMDG scheme. The 2010 second payment was $0.567 in the dollar.