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The Clothing and Household Textiles Building Innovative Capability (BIC) program will replace the SIP scheme from 1 July 2010. Legislation is currently being debated and the new regulations will be available as soon as they are published. BIC will be based on the SIP legislation but will focus more on innovation. In SIP terms, claims will be restricted to Type 2 activity covering innovative product design, innovative process improvement and research and development.
TCF Services' Textiles and Clothing division focuses on delivering the Post 2005 TCF Strategic Investment Program (SIP), a multi-million dollar scheme which commenced in 2000, and runs through to 2015/16.
SIP provides grants of 40% for investment in new plant, equipment, information technology and participation in trade showings and instore promotions, and grants of 80% for expenditure on innovative product design and new approaches to the manufacture of TCF goods in Australia.
TCF Services work hand-in-hand with clients to guide new business development and capital investment strategies that align with the emphasis of SIP in creating companies that can sustain long-term competitive advantage in an environment of declining Government assistance.
From our Sydney and Melbourne offices, we deliver a nation-wide service that ensures applications for SIP are prepared in accordance with legislative requirements, are verified against rigorous internal knowledge of eligibility criteria, and are lodged on time to yield a maximized and quickly paid SIP grant.
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| 1 Mar 2010 |
SIP: Final date for lodgement of claims for the 08/09 year. |
| 30 Jun 2010 |
SIP: Final date for registration for the new BIC program. |
| 1 Jul 2010 |
SIP: Opening date for lodgement of claims for the 09/10 year. |
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Registering and claiming for the Building Innovative Capability
Program (BIC)
If you are considering claiming BIC benefits, or haven’t used TCF Services in the past, contact us now prior to registering, to find out how we can help maximize your return and minimize the fuss of taking part.
Call Llew or Gerry on (02) 8219 4900
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