The Federal Government has revised guidelines for the Government’s Enhanced Project By-law Scheme (EPBS) to give Australian businesses more opportunities to participate in major projects.
Innovation and Industry Minister Senator Kim Carr said the changes would ensure Australian businesses, especially small and medium enterprises, using the scheme would get maximum benefit.
The EPBS provides tariff duty concessions on eligible capital goods for major investment projects across different industries.
Innovation Minister Senator Kim Carr said the changes are part of the Government’s $19.1 million Australian industry participation package, giving Australian industry and workers a ‘fairer go’ at winning government and private sector contracts.
“The changes clarify requirements for projects accessing the scheme, allowing more Australian businesses to be involved in major domestic and international projects,” Senator Carr said.
“It is about giving Australian businesses the best chance of getting in the game, and the best chance of winning – supporting jobs for workers and growth for industry.
“We have consulted extensively with industry and tightened the guidelines to emphasise our focus on improving opportunity for Australian industry participation, and to clarify the scope of goods for which a duty concession can be claimed.
“The changes tighten the definition of what goods will be considered for duty free entry. It will be made clear that it is not possible to receive concessions for whole projects or complex plants.
“In 2007-08, the value of investment in projects applying for an EPBS duty concession totalled $38 billion. In the following two years, it jumped to $42 billion and $56 billion.”
For more information on the scheme details or how to register for the information sessions, visit: www.ausindustry.gov.au or phone 13 28 46.