Covid-19 continues to present significant challenges with labour shortages, supply chain issues and inflationary pressures. Australian businesses want to know how Treasurer Josh Frydenberg will tackle our economic recovery.

Join us for the 2022/23 Federal Budget Webinar where we will bring you expert insights into challenges and potential opportunities, tailored for your industry or business sector.

We will once again welcome back Catherine Birch, ANZ Senior Economist and our panel of experts hosted by Matt Birrell to share their insights and key takeaways from the Budget.

Register via the link below to find out what the budget means for you and your business.

Online registration details

Date

Time

Wednesday, 30 March 2022

9.30am – 11.30am

Expert speakers

Catherine Birch ANZ Senior Economist

Matt Birrell SW Director, Tax

The post Federal Budget Webinar 2022/23 appeared first on SW Accountants & Advisors.

While Australian producers have outstanding business opportunities and long-term capital growth potential, the agricultural sector is not without challenges – from water management to traceability, unpredictable weather patterns to logistics and from investment to export. Your needs across these are understood by our dedicated team of agribusiness advisors and accountants.

Leading providers of advisory, audit and tax services, the SW team works with a wide range of operators in the wine, beef, grain, wool, dairy farming and fruit growing businesses in the Australian market. Our experts support you by remaining at the forefront of key sector issues through our involvement with a range of industry organisations.

With our proximity to Asian economies of scale and extensive free trade agreements across the globe, agriculture and its associated business sector plays a significant role in the Australian economy. There is also significant international investment interest across the entire agricultural supply chain.  

Our Agribusiness services

We consistently provide value-add opportunities to connect with, and learn from, others in the industry. 

Industry Associations & Sponsorships

The post Agribusiness | Agriculture appeared first on SW Accountants & Advisors.

• Explore what the EMDG is

• Discuss how the EMDG is structured and who is eligible
• Provide practical tips via Q&A.

Your guides online

Stuart Barclay General Manager – Marketing, Wine Australia

Sam Morris Director, SW

Thomas Demel Senior Manager, SW

Contact us

If you have any queries or would like more information, please contact the Marketing team via marketing@sw-au.com.

The post Spotlight | Export Market Development Grants Webinar appeared first on SW Accountants & Advisors.

Updated on 30 July 2021

COVID-19 business grant (refer to detailed criteria below)

• Tax exempt grants between $7,500 and $15,000 are available to eligible businesses with annual wages up to $10 million, to cover the first three-weeks of restrictions
• Three different grant amounts will be available depending on the decline in turnover experienced during restrictions:
  • $7,500 for a decline of 30% or more
  • $10,500 for a decline of 50% or more
  • $15,000 for a decline of 70% or more.

Micro business grant (refer to detailed criteria below)

• Grants up to $1,500 per fortnight of restrictions will be available under a new grants program for micro businesses with annual turnover between $30,000 and $75,000 which experience a decline in turnover of 30% or more.

JobSaver (refer to detailed criteria below)

• From week four of lockdown, the Federal Government will help fund the cost of a new business support payment for entities with annual turnover between $75,000 and $250 million (up from $50 million) who can demonstrate that their turnover is 30% lower than an equivalent two-week period in 2019
• Eligible businesses, including not-for-profits, will receive payments equivalent to 40% of their ‘weekly payroll’[1] for work performed in New South Wales:
  • The minimum payment will be $1,500 per week, and
  • The maximum payment will be $100,000 per week (up from $10,000).
• Eligible non-employing businesses (e.g. sole traders) will receive a set payment of $1,000 per week
• To receive the payment, eligible entities will be required to maintain their full time, part time and long-term casual staffing levels as of 13 July 2021
• This payment made to eligible businesses will be tax exempt.

Other Measures

• Businesses will also benefit from payroll tax waivers of 25% for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30% decline in turnover
• Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords, up to 100 per cent of the 2021 land tax year liability
• No recovery of security bonds, or lockouts or evictions of impacted retail and commercial tenants prior to mediation.

Detailed Criteria

NSW COVID-19 business grant 

Applications open from 19 July 2021 to 13 September 2021

NSW COVID-19 micro-business grant

Applications open from 26 July 2021 to 18 October 2021

NSW JobSaver criteria 

Applications open from 26 July 2021 to 18 October 2021

How we can help

Many businesses have found the eligibility criteria difficult to navigate, particularly for newer businesses without 2019 records.

Our experts can guide you through the process and help you gather accepted relevant documentation to ensure your business gains the maximum benefits from these support measures.

Leo Luan

E lluan@sw-au.com

Helen Wicker

E hwicker@sw-au.com

Tony Principe

E tprincipe@sw-au.com

Jae Debrincat

E jdebrincat@sw-au.com

Dilushi Wijesinghe

E dwijesinghe@sw-au.com

[1] ‘Weekly payroll’ can be determined by referring to Item W1 in the most recent Business Activity Statement (‘BAS’) provided to the Australian Taxation Office prior to 28 June 2021 for the 2020-21 financial year.

[2] For businesses grouped by Revenue NSW, ‘total annual Australian wages’ should be calculated using the rules set out by Revenue NSW. Businesses not grouped should apply the ownership grouping provisions under the Payroll Tax Act 2007.[1]  ‘Weekly payroll’ can be determined by referring to Item W1 in the most recent Business Activity Statement (‘BAS’) provided to the Australian Taxation Office prior to 28 June 2021 for the 2020-21 financial year.

[3] The Australian Taxation Office income assessment concept of ‘aggregated annual turnover’ will be applied.

[4] The Australian Taxation Office Goods and Services Tax (‘GST’) concept of ‘decline in turnover’ will be applied.

[5]  https://www.service.nsw.gov.au/2021-covid-19-business-grant-guidelines#attachment-a-list-of-highly-impacted-industries

[6] https://www.service.nsw.gov.au/2021-covid-19-micro-business-grant-guidelines#attachment-a-ineligible-businesses

[7] If the associated person has more than one non-employing business, payments can only be claimed for one business.

[8]  https://www.service.nsw.gov.au/jobsaver-payment-guidelines#attachment-b-ineligible-businesses 

The post NSW COVID-19 Support package appeared first on SW Accountants & Advisors.

The Victorian Government is investing $10m into primary producers through the Digital Agriculture Investment Scheme. Farmers and agribusinesses can now apply for funding to invest in on-farm digital technologies to improve productivity, resilience and long-term viability.

Grant funding can be used to invest in hardware, software, network connectivity and cloud based applications to:

• Improve animal and/or crop health
• Track key assets with smart devices
• Improve business efficiency with novel technologies and farm management platforms
• Purchase satellite imaging and GPS tracking solutions
• Increase on-farm connectivity; and more.

Grants from $5,000 to $50,000 are available on a 50% co-funded basis, with the Victorian Government offering up to half the cost of eligible projects.

Who is eligible?

‘To be eligible, businesses must register a turnover greater than $50,000 from primary production activities in an average year, with consideration made for drought, extreme weather, and COVID-19 related downturn. Businesses must also be registered for GST and be specifically focused on Primary Production.

Please note that off-farm food processors, packers, cold storage facilities, government agencies, not-for-profits and industry associations are not eligible for the fund at this time.

Key dates

Grant funds will be allocated through a competitive application process, with applications assessed by Rural Finance and Agriculture Victoria.

Applications will be accepted until 31 October 2021, or when the funding allocation is exhausted. Given the competitive nature of the scheme we recommend applying well in advance of this date.

The Government Grants landscape is highly complex and competitive, with most programs being heavily over-subscribed.

How can SW help?

SW’s team of Agribusiness and Government Incentives professionals can assess your eligibility to the Digital Agriculture Investment Scheme and improve your chances of submitting a successful application.

Contacts

Get in touch with our team below to find out how you can access this opportunity!

Sam Morris

E smorris@sw-au.com

Steven Edmonds

E sedmonds@sw-au.com

Tom Mullarkey

E tmullarkey@sw-au.com

The post Grant alert – Digital Agriculture Investment Scheme appeared first on SW Accountants & Advisors.

The change will fundamentally alter how applications are made and managed, impacting every business that is currently accessing the scheme.

Key changes include:

• Transitioning to an up-front agreement model, with funding agreed in advance
• Introduction of funding ‘tiers’ for businesses at different stages of their export journey
• Life-time cap of $770,000 grant funds receivable per business through the EMDG program
• Reduction in the turnover cap for eligibility – Businesses must have a turnover of less than $20M to access the fund

What is the impact of this change?

Businesses that are currently accessing the EMDG scheme, or are looking to execute their export strategy in the coming years should be acting now to assess their eligibility for this revised EMDG program.

Prior to submitting an EMDG grant application for planned promotional expenditure, businesses will need to self-assess their eligibility to the updated program and determine which funding tier they should be applying to. Tiers include:

Tier 1: for eligible SMEs who are ready to begin exporting – grants of up to $40,000 per financial year for 2 years

Tier 2: for eligible exporters who plan to expand their exporting – grants of up to $80,000 per financial year for 3 years

Tier 3: for eligible exporters who plan to make a strategic shift in their export activities – grants of up to $150,000 per financial year for 3 years

Key dates

Eligible expenses incurred up to 30 June 2021 will be claimable under the existing scheme, with applications open from 1 July 2021 through to 30 November 2021.

Applications for ‘forward looking’ EMDG grants for the 2021-2022 year must be made between 16 August 2021 and 30 November 2021.

How can SW assist?

Applications for the revised EMDG scheme will initially run alongside the existing EMDG program, increasing the complexity for applicants once the program opens for applications.

The EMDG process is highly complex and rigorous, and never more so than this year! SW’s team of Government Incentives experts can assist you in determining your eligibility, produce high-quality funding applications and maximise your chance of funding success.

Get in touch

To learn more and find out how you can seize the opportunity, contact one of our experts below.

Sam Morris

E smorris@sw-au.com

Thomas Demel

E tdemel@sw-au.com

The post Grant alert – Export Market Development Grant appeared first on SW Accountants & Advisors.

Grants are offered on a 1:1 funding basis, with grants of $50,000 to $1m available. Grant funds can be put toward:

• Investment in plant and equipment
• Research and development for pilot projects and new product development
• Market promotion
• Business and marketing plans
• Feasibility studies
• Website development and network costs.

Application Process

Grant funding will be allocated through a competitive two-stage process.

Applicants are encouraged to submit an expression of interest (EOI) addressing the key merit criteria and project objectives.

Applicants whose EOIs meet the criteria will be invited to submit a full application for funding

Who is eligible

Businesses, industry associations, marketing cooperatives and local government authorities that operate in the Victorian agriculture sector are invited to apply.

To apply, businesses must have a current ABN that was held on the fund opening date. Businesses must also directly employ staff.

Important dates

EOIs opened on March 31 and will close once funding is exhausted. Get in quick to avoid missing out!

How ShineWing Australia can help

The application process is competitive and complex, with limited funds on offer.

ShineWing Australia’s Government Incentives team can assist in project identification, writing comprehensive applications and liaising with program managers to maximise your chance of funding success.

Get in touch

To learn more and find out how you can seize the opportunity, contact Sam Morris or John Anderson.

The post Grant alert – Food to market program appeared first on SW Accountants & Advisors.

Our R&D Incentive and Government Grants webinar provides the insights into what kind of Government support is available to business who are looking to grow, innovate and evolve.

Our experts covered some of the basics and discussed how a tailored strategy can help identify and unlock Federal and State assistance to maximise support and elevate businesses’ projects.

Our services

ShineWing Australia has a dedicated Research & Development and Government Incentives (RDGI) team with a national presence.

Our approach cuts through complexity to maximise success and understand the heart of what our clients want to achieve.

Our R&D services include:

• Identifying and evaluating eligible R&D activities and projects
• Calculating eligible R&D expenditure
• Preparing documentation for registration of R&D activities
• Preparing the R&D Tax Schedule to claim the benefit
• Assisting with compliance and project documentation
• Conducting R&D training sessions.

Government grants cover a broad spectrum of industries and activities, and generally require a high level of detail in the application. Clients recognise the opportunity and value that our expertise provides to significantly improve their rate of success.

These businesses have identified several key reasons they come to us:

• Identifying, scoping and applying can take many hours – time that is better spent on developing the business and product offering
• We know what’s happening in the grant funding landscape, and can tailor a Government Incentives strategy to your business as you grow
• Our Grants team can prepare high-quality applications and leverage our relationships with key government departments to maximise your chance of funding success.

Experts

Contact us

If you have any queries or would like more information, please contact the Marketing team via marketing@sw-au.com.

The post R&D Incentive and Government Grants webinar appeared first on SW Accountants & Advisors.

The Wine Tourism and Cellar Door Grant program has been introduced to support producers who add value by encouraging visitors to wine regions and therefore encourage wine tourism. For each financial year, total funding of $10 million is available under the program.

What is on offer?

Wine producers will be able to access an annual grant reflective of their eligible physical cellar door sales.

Who can apply?

To be eligible for the Wine Tourism and Cellar Door Grant, applicants must:

• be a wine or cider producer
• be a legal entity registered for GST with an active ABN
• have made at least $1,207,000 (GST exclusive) in sales of rebatable wine in the relevant financial year
• accrue rebatable domestic cellar door sales in excess of any such sales used to meet the $1,207,000 (GST exclusive) threshold in the relevant financial year
• have paid the WET on all eligible sales used as part of the application
• have owned or leased a physical cellar door in Australia in the relevant financial year and/or their related entity/ies have owned or leased a physical cellar door in Australia in the relevant financial year
• have a liquor licence valid in the relevant financial year.

Important dates

Applications for Round 2 will close on Friday 30 October 2020.

How can we assist?

Get in touch with one of our experts below to find out how you can benefit from this opportunity.

The post Grant alert: Wine Tourism and Cellar Door Grants appeared first on SW Accountants & Advisors.

Administered through the Department of Agriculture in conjunction with Regional Development Victoria, the Victorian Government has released the $50 million Agriculture Workforce Plan, designed to support regional businesses across the agriculture sector.

The funding will go directly to businesses who have been impacted by the COVID-19 pandemic, and assist them to maintain and expand their operations safely and effectively.

Three streams of funding

Three streams of funding are available to support staff employment, training, and general workplace safety in response to COVID-19:

Application process

Victorian businesses that operate in regional and rural areas (including outer Metropolitan) in the Agribusiness sector may be eligible to apply, including primary producers, food processors, assurance testers, distributors and specialist distribution companies.

In addition, businesses must have an expected annual turnover greater than $75,000 for the 2019-2020 financial year. Further stream-specific eligibility criteria also apply.

A full application is required, highlighting previous business performance, the need for funding, and the value proposition of the proposed project.

Applications close 30 September 2020, or sooner should program funding be exhausted.

How ShineWing Australia can help

ShineWing Australia’s Government Incentives and Agribusiness teams can assist throughout the eligibility, scoping, and application processes, working alongside businesses and the program managers to ensure the best funding outcome.

Get in touch

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