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GrantSmart News
Tax breaks to support innovation investment PDF Print E-mail
Written by Administrator
Monday, 02 May 2016 14:40

The Federal Government will be implementing a new ta incentive to encourage investment into new business ventures, expected to begin during 2016 - subject to passing through parliament.

The program based on the successful UK Seed Enterprise Investment Scheme, will target investment into companies which have incorporated in the previous 3 income years, are not listed on the ASX, and have expenditure less than $1 million and income less than $200,000 in the previous income year.

The plan also allows greater venture capital investment in Australia, by introducing a non-refundable tax offset for capital investment in new Early Stage Venture Capital Limited partnerships and increasing the cap on committed capital from $100 million to $200 million.  Rules that limit depreciation deductions for some intangible assets such as patents will also be removed.

 
WA Innovator of the Year Awards PDF Print E-mail
Written by Administrator
Monday, 02 May 2016 14:35

Do you have a great innovation? The 2016 WA Innovator of The Year Awards are now open for applications. There is a total prize pool valued at $140,000 and a top prize of $75,000 cash to progress your innovation. The categories are:

  • Mitsubishi Corporation WA Innovator of the Year - Overall Winner
  • Mitsubishi Corporation Emerging Innovation Category (pre-revenue)
  • Mitsubishi Corporation Growth Category (post-revenue)
  • Woodside Oil & Gas Encouragement Award
  • Perth Convention Bureau Travel Award
 
Federal Discretionary Grants on Hold PDF Print E-mail
Written by GrantSmart
Friday, 28 March 2014 10:06

We have confirmed that in preparation for the budget in May, the Federal Government has paused all Federal discretionary grant programs and no applications will be progressed at this stage.

This tends to be the usual approach for new governments as they review current programs and consider their approach. It is important to remember that grant programs are a barometer of public policy and as such, the new government always sets fresh vision, and grants change to reflect these new priorities.

We expect detailed information regarding the status of these programs to be available when the 2014-15 budget is handed down on May 13.

Existing legislated programs are not affected and will continue as usual. These include programs such as:

  • R&D Tax Incentive
  • EMDG
  • Tradex

Hopefully we will be reporting good news post budget. Stay tuned.

 

 
$200 million VC boost for startups PDF Print E-mail
Written by GrantSmart
Thursday, 28 March 2013 09:43

Three new funds have been announced with co-funding from the Australian Government's Innovation Investment Fund (IIF). The new venture capital funds will invest at least $200 million into early stage, high growth Australian companies.

$100 million of Government funding will be matched dollar for dollar by private sector investors in:

  • Carnegie Venture Capital Pty Ltd ($40 million);
  • GBS Venture Partners Pty Ltd ($30 million); and
  • Innovation Capital Associates Pty Ltd ($30 million).
Details on the successful fund managers and examples of successful IIF investee companies are available on the AusIndustry website or read the Minister's announcement for his views on the IIF fund.

 

 
Election Effects PDF Print E-mail
Written by GrantSmart
Tuesday, 19 February 2013 10:11

As most of us are aware, the Federal election has been announced by the Prime Minister for September 14. However, you may not be aware or have not thought about the effects of "Caretaker Mode" which is enacted prior to the election.

The Government will go into Caretaker Mode on August 12, when the PM visits the Governor-General to ask her to formally call the election.

So what does this mean for grants? During Caretaker Mode, the government will not announce any successful applicants or enter into new funding agreements. If you are applying for a government grant that has no closing date, such as Commercialisation Australia or the Clean Technology Investment Program, you should take this into consideration.

 
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