Impacts of the 2015 Federal budget
This year’s budget has seen the following changes:
- R&D tax incentive changing from 45% to 43.5% in line with Company tax decrease of 1.5%
- $50 Million increase in Export Market Development Grants available
- Cancellation of Commercialisation Australia Programme
- $484 million entrepreneurs’ infrastructure program The Government is investing $484.2 million in a newEntrepreneurs’ Infrastructure Programme and a Single Business Service to deliver it. The new programme will bring research and business together to develop and commercialise home-grown ideas and equip small to medium enterprises with the management and business skills to lead change and expansion.
- new $155 million Growth Fund ‘to help industry transition from car manufacturing to new jobs in sectors of the future’
- new $50 Million Manufacturing transition programme
- This Budget also includes strategic investments of more than $125 million in resources and energy to support these sectors that are vital to the national economy. This commitment includes a $100 million incentive to encourage more mineral discoveries.