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.