The EMDG program is a retrospective, cash based program. As a result, the importance of the timing of paying expenses cannot be overstated. The 2018 EMDG program opens on 1 July 2018.
Any expenses you intend to claim in your EMDG application for 2018 have to be paid on or before 30 June 2018 in order to be claimed. Otherwise, your business will not be able to recoup these costs through the EMDG program for another 12 months.
I’m planning on submitting an EMDG application - What can I do now to maximise my claim?
- Pay any outstanding invoices that are eligible for EMDG. These are those related to overseas marketing and include those in relation to overseas patents and trademarks. See here for a complete list.
- Ensure any eligible expenses are recharged and paid from related parties prior to 30 June.
- If you are planning on undertaking any overseas marketing trips in July, August or September, book and pay for your flights now. Whilst the overseas allowance is not payable until the trip has taken place, the flights will be claimable if paid prior to 30 June 2018.
- If you are planning on undertaking any overseas patent or trademark work in FY19, and your attorney pre-bills for this work, pay the invoice prior to 30 June. There is case law that allows patent and trademark invoices to be claimed prior to the work taking place since pre-bills are common in the industry.
The program opens on 1 July – when should I lodge my application?
AusTrade statistics tell us early lodgement of your 2018 EMDG application, in July, August and September, will see your application reviewed and audited within 6 to 8 weeks. This is a substantially faster turnaround than for lodgements after this time which can take up to 6 months to be reviewed.
We recommend you act now so as to maximise your EMDG claim and for quick turnaround and payment by Austrade.
Want to know more? Contact our EMDG experts about how we can help your business.