It helps you pay for your marketing costs when selling your products overseas by reimbursing you (up to 50%) for amounts you spend on promoting your products and services for export (except to New Zealand and North Korea)
Most products and services where the intended buyer is a foreigner will qualify, so it can extend to inbound tourism, the export of intellectual property and know-how (e.g. software), and holding conferences and events in Australia.
Promoting products and services produced and sold outside Australia can also qualify if there is a significant net benefit to Australia.
How much can I get?
You can get up to 50% of the amount you spend on the items listed in the categories below:
Overseas representatives who market/promote your product (maximum claim $200,000)
Marketing consultants who conduct export market research or marketing activities (maximum claim $50,000)
Cost of promotional literature and advertising (e.g. website, flyers, brochures, videos, etc)
Cost of bringing overseas buyers to Australia (maximum of $7,500 per buyer per visit capped to $45,000)
Registration and/or insurance of eligible intellectual property for the grant, registration or extension of the period of registration of intellectual property for countries other than Australia or New Zealand and the cost of insurance premiums paid for protection against possible infringement, in countries outside Australia, of eligible intellectual property.
Do I qualify?
To qualify, you need to:
Earn less than $50m in income
Spend at least $15,000 on promoting your products and services for export
Apply within 4 months of the end of the financial year.
If you want us to take you through it, send us an email or give us a call.
We hope you found the information in this article valuable but keep in mind it is no substitute for legal advice.
Adam Ahmed is an Australian international tax lawyer. Adam has over a decade of experience working at 3 of the big 4 accounting firms and one of the top tax law firms in Australia. He is currently the managing director of Adam Ahmed & Co. This article is reproduced from Adam Ahmed & Co.
