The Government provides various incentives for the development of business and exports. Some of the incentives include taxable cash grants under the Export Market Development Grants Scheme (“EMDG Scheme”) to Australian residents, who seek to develop export markets in other jurisdictions. The Export Finance and Insurance Corporation (“EFIC”) offer many facilities like insurance and finance to interested businessmen.
The Government provides various fiscal incentives like tax benefits to small or medium sized business enterprises that are registered as Pooled Development Fund (“PDF”). The Government also encourages the development of Research and Development (“R&D”) activities and provides incentives in addition to the existing benefits. The companies which spend highly on R&D activities may qualify for a special deduction up to 125% of the expenditure incurred as per section 73B of the Income Tax Assessment Act 1936.
Small and medium sized enterprises are continuously encouraged to set up business and various financial assistance programmes are in place to help the investors. The workforce assistance programme intends to coordinate the jobseeker and employer’s demand through operation of a network of offices. A wage subsidy programme helps the employers and businessmen to employ people who have been unemployed, on a long term basis.

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