EMDG, R&D Tax Incentive & More
As a Registered Tax Agent, we provide business tax & incentives advisory to various businesses. For example, Export Market Development Grants (EMDG), Research & Development (R&D) Tax Incentives, Payroll Tax, Capital Gains Tax (CGT) and Fringe Benefits Tax (FBT).
Export Market Development Grants (EMDG)
Are you an exporter of Australian goods or services? If so, you may be eligible for an Export Market Development Grant.
The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for small to medium aspiring and growing export-ready businesses. It encourages businesses to increase international marketing and promotion expenditure to achieve more sustainable international sales. Eligible exporters are reimbursed up to 50 per cent of eligible export promotion expenses above $5,000, up to a maximum of $150,000 per year up to 7 times, provided the total eligible expenses incurred amount to at least $15,000.
How our EMDG Advisory Services can help you?
- Determining your eligible overseas marketing expenses
- Working with your finance team to determine your eligible EMDG expenses
- Preparing the necessary schedules for your EMDG registration
Our fee for EMDG Advisory Services is on a case-by-case basis. However, if your business isn’t eligible for EMDG, you won’t be charged a thing for it.
Research & Development (R&D) Tax Incentive
If you’re an Australian startup or small business conducting research and development activities, you may be eligible to get a cash refund through the Government’s R&D Tax Incentive. In the 2015-16 Budget released on 12 May 2015, the Australian Government reiterated its intention to change the rates of assistance under the R&D Tax Incentive to 43.5% for eligible entities with a turnover under $20 million per annum and not controlled by a tax-exempt entity and 38.5% for all other eligible entities, to apply from 1 July 2014.
All eligible companies can benefit from the program and pay less tax by:
- registering with AusIndustry
- conducting eligible R&D activities
- lodging your annual company tax return with the Australian Tax Office.
How our R&D Tax Incentive Advisory Services can help you?
We provide innovative tax services and solutions to a range of companies. We work with your technical team to determine your eligible R&D activities. We can also work with your finance team to determine your eligible R&D expenses.
- Determining eligibility of core activities, projects or indirect activities
- Working with your technical team to identify R&D tax activities
- Working with your finance team to analyse R & D expenditure
- Registering projects with AusIndustry (required within 10 months after the end of the financial year)
- Preparing and lodging all required applications and documentation
- Preparing R & D tax schedules for lodgement with ATO
Payroll Tax
Businesses with a payroll that exceeds a specified threshold are required to pay Payroll Tax to the Office of State Revenue. Taxable wages are broadly defined to include salaries, wages, superannuation contributions, bonuses, allowances, commissions, director’s fees, termination payments, taxable contractor payments and fringe benefits.
It is up to you as an employer to know if you have reached the state payroll tax threshold and are thus required to pay this tax. When it occurs, you have up to 7 days to register for payroll tax (after the end of the first month in which your staff pay reaches the threshold).
How our Payroll Tax Advisory Services can help you?
Our Payroll Tax Advisory Services can assist your business with monthly payroll tax compliance. Our fee for this service is on a case-by-case basis.
Capital Gains Tax
Capital gains tax is paid on the profit earned from the disposal of an asset. It forms part of your income tax and is not considered a separate tax, although it is often referred to separately as Capital Gains Tax (CGT). Selling a property, collectables, business, shares, bonds, options and other assets could be a “Capital Gains” event. You could end up with a capital gain or loss; you may be taxed on any gain you make on the sale of an asset. CGT is important for all businesses and investors and is one of the more complex areas in Australia’s taxation system.
How our Capital Gains Tax (CGT) Advisory Services can help you?
We are able to assist you in determining the effects of CGT on your business, investment and retirement plans. We can work with you to create sound tax strategies and provide advice to you on tax considerations to minimise capital gains tax payable at the end of the financial year. We are able to assist you in determining the effects of CGT on your business, investment and retirement plans. Our extensive taxation consulting and planning services will help you reduce your exposure to many of the unforeseen drawbacks that CGT can present. Our fee for this service is on a case-by-case basis.
Fringe Benefits Tax (FBT)
Fringe Benefits Tax (FBT) is a complicated area of taxation and our team specialise in solutions to ensure we can tailor salary sacrifices to suit you and your staff while preparing FBT returns for lodgement. FBT is a tax levied on employers who provide employee benefits, typically via salary packaging. Fringe benefits include car parking, health insurance, meals and entertainment, company car, mobile phones and computers. The fringe benefits tax year starts from 1 April to 31 March.
How our Fringe Benefits Tax (FBT) Advisory Services can help you?
We can assist you with:
- Registering for FBT with the ATO
- Consulting advice on specific FBT issues
- Reviewing salary packaging arrangements
- Preparing and lodgement of annual FBT return
Our fee for this service is on a case-by-case basis. Our first hour of consultation for Business Tax & Incentives Advisory Services is FREE.
Ample Finance values your client experience. We endeavour to provide personalised and constructive advice and we pride ourselves on our speed and efficiency. Please don’t hesitate to contact us in person at our Melbourne office, through email at info@amplefinance.com or book an appointment with our company registration specialists at (03) 9988 2911.