After a tough trot, Australian manufacturers can breathe a sigh of relief after the Australian Government revealed applications are now open for the Manufacturing Transition Program.
The program will provide manufacturers with a $50 million boost to become more competitive and sustainable.
Available to any manufacturer spending over $4 million on capital expenditure / expansion activities, the program focuses on businesses looking to transition or expand their operations to higher value-added or more knowledge intensive manufacturing. A great help to those manufacturers already expanding and improving products / services through R&D activities.
What’s on offer
It is a competitive, merit based program that provides;
Activities must meet the following criteria to be eligible for the grant;
Other activities that are in line with the overall objectives of the programme will also be considered. Applications must score highly against set criteria to be recommended for funding. The criteria will be scored out of 100 as follows:
How does the grant impact your R&D Tax Incentive claim?
Successful receipts of this program may be required to make clawback adjustment (reduction) to their R&D tax incentive. Applicants are encouraged to seek advice on the commercial implications of the grant may affect any current or future R&D tax incentive claims.
For more information, or to find out if you may be eligible for this grant and how it will affect your claims under the R&D tax incentive, contact one of our specialist advisers.