Promotes the productivity and competitiveness of the sectors; Is consistent with the Programme objectives; and Is consistent with these Programme Guidelines. Tax Obligations Grant Funds under the Programme may attract the Goods and Services Tax (GST). Payments of Grant Funds will be increased to compensate for any GST which the Growth Centres are liable to pay on the relevant Industry Growth Centre Funding Agreement. Grant Funds under the Programme may be treated as assessable income for taxation purposes. On this basis, the Growth Centres are recommended to seek their own independent professional advice on their taxation obligations. Appendix B: Requirements of the Growth Centres Project Fund Description Part of each Growth Centre’s annual Grant Funds allocation is for the purpose of undertaking industry-led collaborative to improve the Projects productivity, competitiveness and innovative capacity within and between the six sectors of the Programme. The Growth Centres are wholly responsible for developing and delivering Projects that directly relate to the Programme objectives and meet the following objectives: Alignment and relevance: The Project addresses a gap in capacity and capability of the sector and aligns to the strategic priorities of the Growth Centre, as detailed in the Sector Competitiveness Plan (or the Growth Centre’s first Annual Business Plan prior to completion of a Sector Competitiveness Plan); Project impact and for money: The Project will deliver improvements in the levels of collaboration within the sector and the competitiveness and productivity of the sector; and Capacity and capability: Evidence of sufficient industry as well as technical, methodological and management capability to deliver the Project.
Promotes the productivity and competitiveness of the sectors; Is consistent with the Programme objectives; and Is consistent with these Programme Guidelines. Tax Obligations Grant Funds under the Programme may attract the Goods and Services Tax (GST). Payments of Grant Funds will be increased to compensate for any GST which the Growth Centres are liable to pay on the relevant Industry Growth Centre Funding Agreement. Grant Funds under the Programme may be treated as assessable income for taxation purposes. On this basis, the Growth Centres are recommended to seek their own independent professional advice on their taxation obligations. Appendix B: Requirements of the Growth Centres Project Fund Description Part of each Growth Centre’s annual Grant Funds allocation is for the purpose of undertaking industry-led collaborative Projects to improve the productivity, competitiveness and innovative capacity within and between the six sectors of the Programme. The Growth Centres are wholly responsible for developing and delivering Projects that directly relate to the Programme objectives and meet the following objectives: Alignment and relevance: The Project addresses a gap in capacity and capability of the sector and aligns to the strategic priorities of the Growth Centre, as detailed in the Sector Competitiveness Plan (or the Growth Centre’s first Annual Business Plan prior to completion of a Sector Competitiveness Plan); Project impact and for money: The Project will deliver improvements in the levels of collaboration within the sector and the competitiveness and productivity of the sector; and Capacity and capability: Evidence of sufficient industry as well as technical, methodological and management capability to deliver the Project.
industry_growth_centres_initiative_programme_guidelines.docx