none

SENATE PASSES TAX BREAKS FOR START-UPS

10-05-2016
by 
in 
Senate passes tax breaks for startups

Two new initiatives designed to make investment in Australian start-ups more attractive will be in place for the 2016-17 financial year after passing the Senate last week.

The measures are part of the Government’s National Innovation and Science Agenda, aimed at driving smart ideas that create business growth and jobs.

“These tax measures are designed to broaden and diversify the economy through economic policies that build growth and productivity,” said Industry Minister Christopher Pyne.

“The Tax Incentive for Early Stage Investors and New Arrangements for Venture Capital Limited Partnerships will promote investment in innovative high-growth potential start-up companies and improve businesses’ access to venture capital.

“Over 4,500 startups are missing out on equity finance each year. These measures will help startups get access to crucial funding to grow their startup.

“Investors, venture capital funds and innovative companies in all industries will benefit from these measures,” he said. 

The Tax Incentive for Early Stage Investors gives tax concessions to eligible early stage investors who invest in qualifying companies. The concessions include a capped 20 per cent non-refundable tax offset and 10 year capital gains tax exemption for investments.

The New Arrangements for Venture Capital Limited Partnerships provide a range of changes that will improve access to capital and make investing in venture capital more user-friendly and internationally competitive.

For more information visit: www.innovation.gov.au

Related news & editorials

  1. 19.10.2021
    19.10.2021
    by      In
    Federal Opposition Leader Anthony Albanese visited leading Australian manufacturer DECO Australia recently.
    The Opposition Leader visited DECO to learn more about the company’s innovative manufacturing, processes and products, as well as to discuss issues faced by Australian SME manufacturers today... Read More
  2. 25.08.2021
    25.08.2021
    by      In
    The Morrison Government continues to deliver for Australian manufacturers, with a range of important initiatives and new funding opportunities announced in recent months.
    Australia’s economic recovery has been faster and stronger than expected. Our manufacturing sector is going from strength to... Read More
  3. Ed Husic
    17.06.2021
    17.06.2021
    by      In
    With much flourish, the Coalition announced its plan for a $1.5bn Modern Manufacturing Strategy (MMS), but red flags are already emerging around the future integrity of the program.
    Despite the fanfare, MMS has not recorded the creation of a single job, despite Scott Morrison promising to create 80... Read More
  4. Christian Porter
    17.06.2021
    17.06.2021
    by      In
    It has only been a few months since I commenced as Minister for Industry, Science and Technology, but a lot has happened in that time.
    The Morrison Government invested more than $475 million in the May Budget for initiatives that will drive industry growth and scientific development, building on... Read More
Products
Suppliers