Invest in Australia in 2024

Australia investment incentives are an attractive prospect for foreign entrepreneurs. The information below provides an overview for important investment programs in Australia.

Australia Investment Incentives

1. The Australia government offers entrepreneurs a range of investment incentives. The body that manages these initiatives is AUSTRADE. This government agency, offers assistance with:
   • Training, research & development (R&D), and export market development;
   • Streamlined immigration procedures;
   • Sales tax exemption for selected used equipment;
   • Obtaining information for site selection;
   • Introductions to relevant government agencies and professional service providers.
2. One scheme under Austrade is the Export Markets Development Grant (EMDG). Under this scheme, small and medium-sized Australian companies are encouraged to develop their export markets. Eligible companies can receive up to 50% reimbursement on export promotion expenses above a threshold of AU$10,000. To be eligible, companies must have spent more than AU$10,000 on export promotion expenses and have annual turnover of less than AU$50 million;
3. Another Australian government agency is AusIndustry. AusIndustry is under the Department of Industry, Innovation and Science. This agency’s incentives are based on grants schemes where applicants are awarded assistance based on the merits of their application. AusIndustry provides for a large of number of Investment Incentive schemes. Below are some examples of these schemes:
   • Green Car Innovation Fund – Provides grants of 25% of expenditure on projects that promote the R&D and commercialization of Australian fuel optimization or greenhouse gas emission reduction technologies in passenger motor vehicles;
   • Textile Clothing and Footwear Strategic Capability Program – Matches dollar for dollar the R&D expenditure in innovative projects that aim to improve Australia’s textile clothing and footwear industry;
   • Retooling for Climate Change – Provides grants of between $10,000 to $500,000 to small and medium sized Australian manufacturers with projects that aim to improve their environmental footprint.
4. Asset management in Australia may also be achieved through Australia trust formation. Another of the important investment options in Australia, this Australia asset management services is designed for entrepreneurs and high net worth investors who need to migrate their assets into an offshore trust. Thereafter, our Clients no longer own the assets, thus minimizing international taxation and optimizing asset protection.

Main requirements for tax incentives eligibility

1. The Australian government considers some of the following criteria when assessing eligibility for investment incentives: i) would the investment occur without incentive ii) does the investment provide economic benefit iii) does the investment substitute existing production capacity in Australia and create unfair advantage over rival projects;
2. Other points to consider when invest in Australia include:
   • Both foreign and Australian investors are eligible for Australia investment incentives;
   • Australia’s State and Territory governments also actively court inward investment and may offer new incentives to encourage Australia business registration each year;
   • Australia has strong Intellectual Property (IP) laws in place for those planning to set up a company in Australia to develop or utilise trademarks, copyrights and patents.