Is my startup eligible for the R&D Grant?

Posted by Michael Derin on 29-Mar-2018 13:27:48

The R&D Tax Incentive is a government initiative that focuses on providing a tax offset for some of the company’s costs associated with research and development activity.

While there is legislation that determines eligibility it is self assessed. What does that mean?

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Topics: Tech Business, Startups, innovation, r&d, Startup Australia, commercialization australia

Released Australia 2030 Plan: Prosperity through Innovation

Posted by Michael Derin on 26-Mar-2018 10:52:04

Australia may be small in population in comparison to other nations but we are innovative and creative and are real players in the technology space. So it is very exciting that the Australian Government and Innovation and Science Australia have recently launched Australia 2030 Plan: Prosperity through Innovation. This is a plan for Australia to thrive in the global innovation race.

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Topics: Tech Business, Startups, innovation, international business, Business growth, Prosperity through innovation, ISA, Australia 2030

Recouping Tax Losses for Innovation

Posted by Michael Derin on 12-Sep-2017 10:52:13


A draft law developed by the ATO is set to make changes to an existing ruling that will now cover innovation for companies. This new law will allow companies to recoup tax losses for carrying on a business against income derived from a similar business following a change in ownership or control, even if the business is significantly different because of innovative changes.

While there were previous laws that allowed this, they didn’t include innovation, so this is a real win for this sector!

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Topics: Tech Business, ATO, Tax, innovation

Tax incentive for Early Stage Innovation Companies

Posted by Michael Derin on 11-Jul-2017 12:04:20

As you’re probably aware, certain investments into a qualifying Early Stage Innovation Company (ESIC) from 1 July 2016 may entitle a taxpayer to tax incentives including a non-refundable tax offset equal to 20% of the investment (up to a $200,000 limit each income year for “sophisticated investors”) as well as capital gain tax exemption on shares held between 1 and 10 years.

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Topics: Tech Business, ATO, Tax, innovation, Investor

Azure Group's coverage of the 2017-18 Federal Budget

Posted by Michael Derin on 10-May-2017 08:04:01

After 5 weeks of speculation and commentary the wait and the suspense is over.

Last night Treasurer Scott Morrison handed down his much anticipated budget, and there weren’t too many surprises! But Mr Morrison does appear to have a strong focus on small business, saying “Small business owners are out there fighting for growth in their businesses every day. They deserve our respect and support.” But did his budget deliver on this?

So the big question is, has he delivered respect and support to small businesses? Let's find out?

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Topics: Budget, SME, Startups, innovation

2017 Budget Roundup: Pre Announcement Edition

Posted by Michael Derin on 05-May-2017 15:24:36


Working capital and cashflow are the biggest challenge faced by small businesses trying to manage and scale their business. In a recent poll on the My Business website almost one third cited capital as the biggest impediment to growth. Yet we need small businesses to grow in order to grow job opportunities and output for the benefit of the economy. 

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Topics: Budget, SME, Tech Business, innovation

Has the Government done enough to stimulate Innovation in Australia?

Posted by Michael Derin on 04-May-2017 08:32:08


The Turnbull Government has pledged to support tech companies, and in particular startups. The National Innovation Agenda had been well received with the possibilities that it presented. However, the governments announcement recently to scrap the 457 visa scheme and to tighten rules for working visas may be casting uncertainty over this sector.

Australia’s oldest and most successful tech incubator, Cicada has advised that roughly a third of their startups have people on 457s, and about 70% of those companies that have scaled up are also utilising talent on 457s. 

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Topics: Entrepreneur, Tech Business, innovation

2017 Budget Roundup: Edition Four

Posted by Michael Derin on 28-Apr-2017 12:00:40


With another budget deficit looming there is a an increased pressure on the government to finally crack down on multinational companies. While the 2016 budget addressed the issues of tax avoidance by multinationals and implemented some policies to tighten regulations, is more still needed?

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Topics: Budget, Tech Business, innovation

2017 Budget Roundup: Edition Three

Posted by Michael Derin on 21-Apr-2017 14:50:43


Business and budget news has been overshadowed this week by the Government’s controversial announcement that they will be cracking down on immigration laws in Australia. But it was the announcement of the removal of 457 visas that has sent the business world into a spin. 

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Topics: Budget, SME, Tech Business, innovation

2017 Budget Roundup: Edition Two

Posted by Michael Derin on 13-Apr-2017 15:22:08


With only four weeks till the budget will be announced, speculation is growing over what it will include, and just how big that deficit will be.

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Topics: Budget, SME, Tech Business, Superannuation, innovation, international business