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Host country and home country government incentives for international…
Host country and home country government incentives for international trade
Grants
A government grant refers to the money given by the Australian government to Australian businesses to lower their production costs. That grants act as an incentive to expand the business.
Export Market Development Grants (EMDG)
A grant that reimburses promotional expenses for exporters aiming to increase their international sales.
Applications open every year om the 1st of July.
It is for Australian exporters that don't get more than $50 million in the grant year. Applicants also need to have incurred at least $15000 of eligible expenses under the scheme.
Export Finance Australia (EFA)
It is the governments export credit agency and they provide financial expertise and solutions to drive sustainable growth that benefits Australia and our partners
Applicants need to have a revenue of over $250000 in the last financial year. They must have export contracts or purchase orders, along with businesses seeking support for a supply chain contract. They must be unable to get financial aid from their bank and they must be available for first-time exporters.
Benefits
Greater Australian participation in international supply chains.
Access to new markets or export opportunities for Australian businesses
More Australian jobs.
Payment of dividends or other financial proceeds from overseas to Australia.
New research and development expenditure in Australia
Australia access ti new products, interllectual property or tech.
Taxation
Income of individuals is taxed at progressive rates from 0% to 45%
R + D Tax Incentive
A business eligible to pay tax in Aus. Must conduct at least one activity that meets core R + D activity.
Refundable
Small and medium businesses - Get 43.5% refundable tax
Tax offset
Turnover = less than $20 million
Non refundable
Big businesses - 38.5% non refundable tax
tax offset
Turnover = $20 million - $100 million