The new R&D Tax Credit will provide a more generous base rate of assistance for businesses and strongly supports small and medium enterprises which are more responsive to fiscal incentives. The new measure adopts international best practice of using a tax credit to support business research and development efforts. It breaks the link between the after tax value of support and the company tax rate, providing you with a more predictable benefit.

Under legislation before the Parliament, eligible companies with a turnover under $20 million will have access to a 45% refundable tax credit. This doubles the base rate of government support for research and development from 7.5 cents to 15 cents in the dollar. SMEs will be able to take this benefit in cash if they end the year in tax loss. All other eligible companies will have access to a 40% non‑refundable tax credit, raising the base rate of government assistance by a third, from 7.5 cents to 10 cents in the dollar.

Parliament adjourned before the R&D Tax Credit legislation could be brought to a vote in the Senate. Let me assure you I will work on your behalf to pursue this important reform when Parliament reconvenes.

Open for applications

The Australian Government's Automotive Transformation Scheme (ATS) is open for applications. All participants will be eligible to claim up to 15 per cent of their investment in approved plant and equipment and up to 50 per cent of their investment in approved research and development. Motor vehicle producers will also be able to claim assistance against production of motor vehicles or engines.

Check out export marketing help

Need help with export marketing expenses? Applications are now open for the Export Market Development Grants (EMDG) scheme which supports a wide range of industry sectors by helping to offset export marketing costs. Check your eligibility and download an application form now.

Smart tool for small business

Small businesses now have a new tool to help them manage their patents, trade marks and other valuable intellectual property (IP) assets. Intellectual Property Explorer is a free online tool that:

• introduces IP concepts in plain english
• provides a step by step guide to reviewing IP assets including copyright, patents, trade marks and designs
• gives practical advice on how to avoid commercial risks, which could result in costly legal proceedings with employees or third parties.

Funding awarded to TCF businesses

Grants ranging from $17,000 to $50,000 have been awarded to 63 small businesses under the Australian Government's Textile, Clothing and Footwear (TCF) Small Business Program. The $2.6 million in funding is to help these businesses become more innovative and strengthen the business culture of TCF industries.

Give us a call

More than 15,000 calls have been received by the Australian Government's Small Business Support Line to date, with a resolution rate of 89 per cent. The remaining 11 per cent of callers are referred to third parties, such as the Australian Taxation Office. Almost 60 per cent of the callers were starting a new business. The Small Business Support Line number is 1800 777 275 and is open Monday-Friday 8am-8pm AEST. The business.gov.au website is another useful tool for small business support.

Cool building

A $500,000 Green Building Fund grant helped tenants in a 13-storey and 18-year-old building in tropical North Queensland to cut their energy bills by 32 per cent. The GBF was used to support six major projects to improve the building's energy costs. Another Australian Government program - The Re-tooling for Climate Change program - helps small and medium-sized manufacturers reduce their environmental footprint, through projects that improve the energy and/or water efficiency of their production processes. The program provides grants of between $10,000 and $500,000, up to a maximum of half of the cost of each project.

The good oil on sustainability

Enviro'LIVE is Australia's peak environmental and sustainability exhibition showcasing the largest display ever of products and technologies that are available to Australian businesses and consumers to enable them make informed decisions on sustainable development. A new feature of the trade exhibition this year is the introduction of a business-matching program, allowing delegates and trade visitors the opportunity to preview the exhibitors and pre-book appointments to meet with them. Enviro 2010 runs from July 21-23 in Melbourne.

Off and running

Perth-based design and manufacturing firm, Orbital Australia, has received a $440,413 grant under the Green Car Innovation Fund. The company is developing low-emission engines. The GCIF offers grants from $100,000 for projects that significantly reduce the fuel consumption and/or greenhouse gas emissions of passenger motor vehicles.

SA in SAIIF hands

Eighty-one jobs will be created and hundreds more could come, with the announcement of two grants worth $2.58 million, and a further round of the South Australia Innovation and Investment Fund. Maxiplas Pty Ltd receieved $2.21 million to expand its plastic injection and rotational moulding business, creating 69 fulltime jobs. Astec Paints Australasia received $370,000 to install new equipment and measuring systems for its specialised coating business, creating 12 fulltime jobs. Round 3 of SAIIF is now open. Applications close on Friday 10 September 2010.