Austrade has released an important announcement on the grant payouts for Round 2 ( FY23 applications) for the Export Market Development Grants (EMDG).
Round 2 Grant Amounts
The payout amounts for Round 2 per financial year are:
- Tier 1 (new exporter) : up to $10,000
- Tier 2 (export expansion) : up to $18,000
- Tier 3 (export strategy shift): up to $28,000
- Representative Bodies: up to $50,000
Payout amount for businesses who have signed the Round 1 agreement will not change. Therefore when milestone payments are made in August 2023, there will be different caps for each Round of Applicants.
The decrease in grant amounts against the previous round were attributed to the high volume of applications and the limited funding. The EMDG being an eligibility-based and demand-driven program, all successful applicants receive a grant from the total allocated grant funding.
Round 2 applicants will have 21 days to review and accept the grant agreement issued by Austrade. You can access this at the EMDG Online Portal using your myGovID. An agent or other third party cannot accept the agreement on your behalf.
Milestones and Payments
Grant payments for expenses incurred in FY23 will be made in first quarter FY24 based on the Milestone reports. You may be asked to provide bank statements that show the transactions and verify evidence related to the expenses incurred.
Your milestone report must:
- include your planned activities (as detailed as possible); and
- showcase that you met the goals identified in your plan to market
The timings for milestone payments are dependent on the date of your submitted milestone report. If you submitted your report a little later, or are yet to do so, please remember that your milestone report must be assessed before any payment is made.
Austrade will assess the milestone reports in the order they are received and then make payments within 14 days of their assessment being finalised.
Austrade may ask you, as a grantee, for information, documents, or a statement about any relevant matters, including records of the eligible expenses you have paid. Similarly, AusIndustry can ask for additional information on your application.
We have 14 years of experience preparing EMDG claims and can assist in making sure you receive your maximum rebate. For more information about EMDG click here.
Working with us means you get the maximum grant with minimum risk and effort. Our expertise includes R&D Tax Incentive registration and tax schedules, Export Grants, Capital Expenditure and Infrastructure Grants.
Get in touch with us and let’s discuss this more in detail.
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