Regional Industry Collaboration Program (RICP)March 26 2018
Busy times for the start of the year in the Regional Industry Collaboration Program! As March closes there are 17 companies from Ballarat, Bendigo and Geelong actively involved in the program. The RICP is focused on actively helping manufacturing companies innovate through engaging researchers from our local universities and the CSIRO. So far, hundreds of thousands of dollars have been committed to R&D projects which will result in increased investment and jobs in regional Victoria.
R&D Tax Incentive Forum
The RICP and Manufutures at Deakin hosted the R&D Tax Incentive Forum on 15 Feb. The forum was attended by thirty attendees from a range of industries, all keen to hear about the latest in this field with the option of a tour of the great new Manufutures building.
Following a federal program update from David Elliott (Regional Manager, AusIndustry) the group heard from Alun Needham, Director Government Incentives, KPMG. Alun provided the latest on how the ATO has increased their scrutiny of R&D Tax Incentive claims, which in some cases, has resulted in significant reductions to those claims. To avoid this outcome and to provide attendees with greater confidence that their R&D claims are robust, the forum provided:
- an update on recent AusIndustry and ATO guidance on claim issues including identifying eligible R&D activities, claiming eligible costs and substantiating your claims;
- practical tips on how to respond to the regulators’ positions;
- an overview of good R&D governance practice; and
- an update on the Australian Government’s response to the recommendations in the 2016 R&D Tax Review Report by Fraser, Finkel and Ferris.
Overwhelming feedback from attendees was that they learnt a lot about the subject, felt more able to gain advantage from the R&D Tax Incentive and could take real steps in their own business to create the administrative structure to support their claim for the tax incentive. This incentive is valuable assistance to any company’s R&D efforts and can make an R&D budget go much further.
Spotlight on an Innovator
Australian Turntable Company – Australia’s premier industrial turntable company designs, engineers and manufactures bespoke rotational movement systems in Bendigo. ATC has projects installed in over 15 countries and a growing network of distributors. Australian Turntables is a world recognised, ISO accredited company that can design rotational movement systems for trucks, cars, revolving restaurants and many industrial uses.
While ATC is the company to call for a turntable they are actually in the business of creating space – wherever you need to make the most of a difficult site a turntable can for example allow heavy trucks to deliver and turn around on the spot which immediately increases productivity and safety. Even two trucks at a time. This frees up space for other productive uses or allows efficiencies by shortening delivery pipelines.
A 12m diameter turntable being built in Bendigo for use on a construction site.
Take a look at the Adelaide Convention Centre’s recent major expansion. Watch from 4:45 in the video to see how the installed turntables can transform an auditorium.
For more information on the RICP contact Michael Williams at the GMC 0439882366. Michael has a long history of business development from the automotive industry and can assist your company free of charge to innovate and grow through collaborating with researchers.
Coming up this year – stay tuned for more details of the Innovation Expo planned for June.
Contact Mike Williams, Industry Innovation Manager, 0439882366 for more information on how your business can be assisted to innovate