On 27 September 2017, the Queensland Government announced Round 3 of their Small Business Digital Grants program.

The program will provide matched funding of up to $10,000 to eligible businesses for the purchase of hardware, software and services (such as digital coaching).

The digital technology or service must fall under one of the five priority areas:

• Digital marketing and social media

• Digital content (web pages, mobile apps, media)

• Receiving payments or selling online

• Specialised digital technology or software

• Digital planning and advice/training

To be eligible, your business must:

• Have fewer than 20 employees at the time of applying for the grant; and

• Have an Australian Business Number and be registered for GST; and

• Have a Queensland headquarters or significant Queensland-based operations.

Round 3 opened on 27 September 2017 and closes 24 October 2017.  For more information, please go to: https://www.business.qld.gov.au/business/support-tools-grants/grants/digital-grants

Round 2 of the Queensland Government’s digital grant will open on 8 March 2017.

It is a matched grant of up to $10,000 for eligible businesses to purchase hardware, software and services (eg. digital coaching).

The business must show that the digital technology/services will enhance the digital capabilities of their business and help them be more competitive and employ staff.

The digital technology/service must fall under one of four identified priority areas:

1. Content development (webpages, mobile apps, visual and audio media etc);

2. Receiving payments or selling online;

3. Specialised digital technology or software (business specific)

4. Digital planning, marketing strategy development, and training.

To be eligible, your business must:

* have fewer than 20 employees at the time of applying for the grant

* have an ABN and be registered for GST

* have a Queensland headquarters or significant Queensland-based operations

* have a turnover of $2 million or less in the last 12 calendar months.

Some of the areas NOT funded include:

* Fees for services provided by a related party

* Franchise fees or related costs

* Maintenance of existing digital technologies, including website hosting or maintenance

* SEO, Google AdWords, Facebook advertising or similar expenses

* Subscriptions, including could (software) services.

For more information, go to: https://www.business.qld.gov.au/starting-business/advice-support/grants/digital-grants

Today the Queensland Government have opened another grant for small businesses. The Queensland State Government will provide matched funding of up to $5,000 to eligible businesses to engage a consultant, advisor or business coach to help establish or develop the business.

The advice must fall under one or more of the following categories:

* professional business, tax, computing, legal or financial (accounting) advice

* mentoring / coaching

* business and strategic planning

* market research and marketing strategies, including branding strategies and social media/digital strategies.

As part of the advice, the consultant will assist with developing a business action plan for the next 12 months to support and improve the business.  Providing an action plan is a mandatory requirement of funding.

Eligible Criteria

To be eligible the business must:

* have a business name registered within the last 4 years

* have fewer than 20 employees at the time of applying for the grant

* have an ABN and be registered for GST

* be based in Queensland

* declare if any of the owners or directors of the business are an undischarged bankrupt or insolvent.

Important dates

Round 1 opens 3 February 2017 and closes 3 March 2017.  Further rounds will be opened in July and December 2017.

All purchases approved for funding must be completed within 3 months of the date of approval.

Our comment

From 1 July 2016, small business rollovers were introduced into the tax legislation (in addition to the existing rollovers for certain types of restructures).  These rollover provisions allow businesses to change their operating structure and defer any potential tax implications that may arise from the restructure.  Given the availability of these rollovers and the announcement of this grant, now is a good time for businesses to review their operating structure.

Please contact us as soon as possible if you would like to discuss whether this grant may apply to your business and whether your business may benefit from structuring advice.

The current total outstanding tax debt owed to the ATO $19.2 billion.  Small businesses account for 65.2% of this debt (or $12.5 billion).  As part of its Mid-Year Economic and Fiscal Outlook, the Federal Government announced that from 1 July 2017 they would report certain tax debts to credit agencies.

The proposed measures will apply to taxpayers that are businesses with an ABN.  It is proposed that the ATO will report outstanding debts to credit agencies where those debts are:

* More than $10,000; 

* More than 90 days overdue; and

* Not being actively managed by the taxpayer and the ATO (eg. covered by a payment plan).

These notifications will then remain on credit files for 5 years.

We recommend that businesses:

1. Review cashflow and ensure sufficient funds are being put aside to meet tax obligations as and when they fall due;

2. Actively engage the ATO where to discuss tax debts where on time payment is not possible.

It is important that you communicate with your advisers or the ATO if you encounter cashflow issues as these proposed measures can adversely affect your business’ credit rating.  Call us today on (07) 5665 6469 if you would like to discuss your ATO liabilities and your potential available options.

On 8 November 2016, the Queensland Government announced their Small Business Digital Grants Program.

It will provide matched funding of up to $10,000 to eligible businesses for the purchase of hardware, software and services (such as digital coaching).

The digital technology or service must fall under one of the five priority areas:

• Digital marketing and social media

• Digital content (web pages, mobile apps, media)

• Receiving payments or selling online

• Specialised digital technology or software

• Digital planning and advice/training

To be eligible, your business must:

• Have fewer than 20 employees at the time of applying for the grant; and

• Have an Australian Business Number and be registered for GST; and

• Have a Queensland headquarters or significant Queensland-based operations.

Round 1 opens 8 November 2016 and closes 9 December 2016.  For more information, please go to: https://www.business.qld.gov.au/business/support-tools-grants/grants/digital-grants

On 21 October 2016, the Queensland Government announced their Accelerate Small Business Grants Program. 

The grant will provide matched funding of up to $10,000 to eligible businesses to engage business mentors, coaches or an advisory board for 6 to 12 months. 

To be eligible for the grant, your business must:

• Have a minimum trading history of 4 years

• Have a minimum turnover of $750,000

• Have a maximum headcount of 20 employees at the time of application

• Have an ABN

• Have Queensland headquarters or significant Queensland operations

• Have competitive opportunities in domestic or international markets

• Be experiencing growth and have clearly defined high-growth opportunities

Applications opened on 25 October 2016 and will remain open until the annual budget of $3 million is fully allocated.  For more information please go to: https://www.business.qld.gov.au/business/support-tools-grants/grants/accelerate-grants