Grants To Fight Climate Change
Manufacturers can seek federal grants to offset the cost of capturing waste energy or collecting storm water.
The $75 million Re-Tooling for Climate Change programme will offer grants from $10,000 to $500,000 to help reduce the impact manufacturing processes have on the environment.
- The grants will meet up to one third of the costs of projects to improve energy and water efficiency, such as;
- Small-scale cogeneration plants that use waste energy to produce electricity on site
- Stormwater capture and improved water recycling
- Improving insulation and recovering waste heat, and
- Process re-engineering with the use of energy efficient tools
Those eligible include:
- Non-tax exempt manufacturers under the Corporations Act 2001,
- Manufacturers that have an annual turnover of less than $100 million in each of the three preceding financial years, and
- Manufacturers able to fund the cost not met by the grant
For more information go to ...www.ausindustry.gov.au
March 2009 - Government Assistance
As part of its stimulus package to boost the slowing economy, the Federal Government is proposing temporary tax deductions on new capital purchases this financial year. In the March issue of My Business, accountants Pitcher Partners outline how to access the tax concessions.
Businesses can received a 30 per cent tax deduction on new depreciable assets purchased prior to June 30 2009. Between July 1 and December 31 2009, the deduction is available at the reduced rate of 10 per cent.
The Federal Government is aiming to encourage businesses to invest in capital equipment primarily before 30 June 2009, and the deduction is claimed in the business’s income tax return for the year. Assets that qualify for this deduction are new (not second hand) and are to be used in carrying on business in Australia.
Examples include common business appliances, such as fax machines, computers, plant and equipment and industrial machinery such as harvesting equipment, cranes, and bulldozers. Cars also can qualify for this bonus tax deduction, with pro-rata adjustments for private use.
Land and trading stock and most intangible assets such as intellectual property will not be eligible for this tax deduction, neither will expenditure on capital works such as buildings.
Government grants for family friendly initiatives
The Australian Government has introduced the Fresh Ideas for Work and Family grants program to support Australian small businesses to implement practices that help employees balance their work and family obligations as well as improve employee retention and productivity. The program provides grants of $5,000 to $15,000 to small businesses to help meet the set-up costs of family friendly arrangements that suit the individual needs of the business. Applications for the current funding round must be received by 24 April 2009. The grants are dispensed by the Federal Department of Education, Employment and Workplace Relations. Further information on family friendly work arrangements, work-life balance and the program is available from this website. You may also call the Workplace Infoline on 1300 363 264, email FIWF@deewr.gov.au or www.deewr.gov.au/WorkplaceRelations/FreshIdeas/Pages/default.aspx