Research & Development Grants in the Manufacturing sector
To be successful, you must embrace Industry 4.0. Invest in R&D to innovate and build greater resilience to changing market conditions.
BDO’s R&D taxation specialists regularly prepare applications and obtain R&D benefits for clients. This includes activities to acquire knowledge about new or improved materials, products, devices, processes or services.
We understand the R&D tax incentives system and can provide advice to suit your needs. Helping you to maximise your access to these tax incentives. We also advise on various grants programs funded by the Commonwealth and State governments, another major source of funding for R&D in Australia.
Manufacturing Modernisation Fund
First administered in 2019, the Manufacturing Modernisation Fund (MMF) provides small and medium-sized manufacturers with funding to modernise their manufacturing processes, adopt new technologies, become more productive and create jobs. In the 2020-21 Budget, the Government announced the renewal of the fund for a second round with an additional $52.8 million of funding. This round will support approximately 150 firms that align with the National Manufacturing Priorities, to make capital investments that will increase employment, upskill workers, or result in the use of new technology to support the COVID-19 recovery.
The MMF offers:
- Grants of $100,000 to $1 million on a 3:1 funding basis
- Support for transformative investments in technologies and processes.
For further information on the Manufacturing Modernisation Fund, please visit this page or contact a member of our Government Incentives team.
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