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. 25.05.2018
    25.05.2018
    by      In
    The global space industry has undergone a major transformation since astronauts first walked on the Moon in the late 1960s. Half a century later, it is more appropriately known as the global space economy.
    Whereas once space was the domain of governments alone, now it attracts a massive private... Read More
  2. 21.05.2018
    21.05.2018
    by      In
    This year’s federal budget was delivered during National Manufacturing Week. Apart from that coincidence, however, the budget had almost no connection to Australia’s manufacturers.
    There is certainly nothing in it resembling a plan for the future of the sector, or any recognition of the importance... Read More
  3. 15.05.2018
    15.05.2018
    by      In
    South Australia is looking to follow the blueprint of neighbouring export powerhouse New Zealand in a bid to turn its economy around.
    Steven Marshall’s Liberal Government won the March 17 state election, and Marshall has vowed to lower taxes, streamline approval processes and grow exports.
    Several... Read More
  4. 07.05.2018
    07.05.2018
    by      In
    Making the tax system work for everyone is one of the most important tasks facing any government.
    Governments need to collect enough revenue to fund all their activities, from infrastructure spending to provision of healthcare and education.
    They need to ensure that the tax burden is fairly... Read More