The government intends to pass a law to provide tax incentives for investment in some Australian innovation companies.
It is proposed that investors in qualifying innovation companies will be entitled to:
- a non-refundable tax offset equal to 20% of the amount of the investment, capped at $200,000 per income year, and
- a 10-year capital gains tax exemption on the investment.
The incentives are intended to be available as soon as the law is passed (but no earlier than 1 July 2016).
For further information please contact your RCB Advisors team member.
Sources:
Australian Government Federal Register of Legislation (https://www.legislation.gov.au/Details/C2016A00054)
