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The Automotive Competitiveness and Investment Scheme (ACIS) is a $3.7 billion Commonwealth Government assistance package designed to help local automotive product producers improve international competitiveness while undergoing a period of tariff reductions. The scheme commenced on 1 January 2001, was extended in 2003, and now runs to 2015.
Benefit
ACIS rewards investment and R&D through the quarterly issue of duty credits to registered Motor Vehicle Producers (MVP), Automotive Component Producers (ACP), Automotive Machine Tool Producers (AMTP) and Automotive Service Providers (ASP).
MVP's are able to claim duty credits equal to 25% of the value of production of motor vehicles, engines and engine components, multiplied by the relevant tariff rate; and 10% of the value of new investment in plant and equipment.
ACPs, AMTPs and ASPs are able to claim duty credits equal to 25% of the value of new investment in plant and equipment and second hand equipment landed in Australia for the first time; and 45% of the value of investment in eligible R&D. All assistance is capped to 5% of eligible locally produced sales.
Who can apply for registration?
- Australian producers of at least 30,000 motor vehicles or 30,000 engines annually (MVP);
- Australian producers of at least $500,000 of at least one kind of automotive component annually for use as original equipment (OE) in at least 30,000 motor vehicles or 30,000 engines (ACP);
- Australian producers of a least $500,000 of OE annually, where that production represents at least 50% of the total value of a producers automotive component production (ACP);
- Australian producers of a least $500,000 of automotive machine tools or tooling annually, where at least 50% of that production is used to produce OE (AMTP); and;
- Australian providers of at least $500,000 of automotive services annually, where at least 50% of those services relate to original equipment used in the assembly of motor vehicles or automotive components in Australia or elsewhere (ASP);
The TCF Way
At TCF we provide a unique value-added approach to ACIS delivery and brokerage. Our development of tailored solutions ensures maximisation of returns in accordance with legislation.
TCF Services work with clients from initial registration through to the identification of claimable plant and equipment and the implementation of robust and sustainable methodologies for tracking eligible ACIS research and development.
The process of capturing required claim data includes the training of suitable employees to understand ACIS R&D, with specific data gathering solutions used to comply with scheme regulations.
Our unique service offering, compiling and lodging quarterly returns and the brokerage of issued credits at premium rates, is designed to maximise the benefits for scheme participants with the minimum of fuss. We call this solution the TCF Way.
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