Commonwealth Consolidated Acts Commonwealth Consolidated ActsObject
(1) The object of this Part is to foster the development of a sustainable and internationally competitive TCF manufacturing industry and TCF design industry in Australia by providing incentives which will promote investment and innovation.
Simplified outline
(2) The following is a simplified outline of this Part:
• The Minister must formulate a scheme (the TCF Post - 2005 (SIP) scheme ) for the making of grants in connection with the design and manufacture, in Australia , of eligible TCF products.
• The total of the grants paid under the TCF Post - 2005 (SIP) scheme must not exceed $487.5 million.
• The TCF Post - 2005 (SIP) scheme will provide for 2 types of grants:
(a) grants in respect of TCF capital investment expenditure on new TCF plant or buildings, brand support for TCF products or non - production related information technology; and
(b) grants in respect of TCF research and development expenditure.
• The TCF Post - 2005 (SIP) scheme will provide for the making of those grants in respect of expenditure incurred in the 2005 - 2006 to 2009 - 2010 income years.
• Grants under the TCF Post - 2005 (SIP) scheme are to be made in arrears.
• Entities who wish to obtain grants under the TCF Post - 2005 (SIP) scheme will be required to register under the scheme and to submit strategic business plans and accounts.