What better time than now, as this financial year comes to an end, to put your R&D house in order. For those companies claiming the R&D Tax Incentive, one of the most important things to action is to get the company’s R&D record keeping in order.

Whether it is the capture of financial costs or the recording of actual physical research and development activities, these records are critical in proving that your organisation in fact carried out eligible R&D activities.

Business Wisdom can assist you in ensuring your records meet the statutory requirements. We can also provide templates to assist your company’s record keeping.

Talk to us today about your R&D claims for this financial year just concluding (FY17), and also to set you up correctly for the year about to commence (ie FY18).

The Victorian Government has announced under the Victorian Defence Industry Supply Chain Program funding of between $2,000 to $50,000 to companies in support of projects that address business systems and process certifications, tender response assistance and industry specific compliance requirements.

Grants must be matched $1 for $1 by the applicant organisation.

Talk to the experts at Business Wisdom about your company's eligibility for this program.

Falling under the Federal Government’s Entrepreneur’s program, the Accelerating Commercialisation scheme provides support for, primarily companies, undertaking eligible commercialisation projects for up to 50 per cent of the eligible expenditure, up to a maximum of:

• $250,000 for Commercialisation Offices and Eligible Partner Entities;

• $1 million for all other applicants.

Accelerating Commercialisation Grant recipients will also receive Portfolio Services for the duration of the agreed project in their Funding Agreement, and may be extended for up to 24 months at the discretion of the Programme Delegate.

The eligibility requirements for this grant are a little more complex than some other government funding initiatives. Business Wisdom can provide guidance on how to secure this grant funding.