Company Name: Secure2Go
Announcement Date: 08/07/2016
Announcement Category: Investment
Announcement Content:
The Australian Taxation Office has brought into effect from 1 July its new tax incentives for early stage investors. Early Stage Innovation Company, ESIC, incentives are part of the Turnbull Governmentâs innovation measures and according to the ATO:
The incentives provide eligible investors, who purchase new shares, with:
⢠a non-refundable carry forward tax offset equal to 20% of the value of their qualifying investments. This is capped at a maximum tax offset amount of $200,000.
⢠a modified capital gains tax (CGT) treatment, under which capital gains made or accrued on qualifying shares that are continuously held for at least 12 months and less than ten years are exempt from CGT. Capital losses made or accrued on shares held less than ten years are also disregarded.
Source: https://www.ato.gov.au/Business/Tax-incentives-for-innovation
One of the first to take advantage of the new legislation is Perth-based tech company Secure2Go. Working with wearable and connected technology the company currently has customers and commercial trials across resources, goods transport and people transport nationally.
âWe expect the new legislation will help bridge the gap for mainstream investors to participate in the exciting opportunities with the Australian startup community.â said Wes Lawrence, Managing Director of Secure2Go.
The company is currently completing a Series A funding round ahead of an IPO later in the year.
For more information on Secure2Goâs innovative technology visit secure2go.com.
Announcement URL: http://www.secure2go.com/2016/07/08/secure2goseriesafunding/
About Secure2Go:
Secure2Go is an industrial Internet of Things (IoT) applications provider delivering connectivity, safety, security and peace of mind for people and businesses.
Our portfolio of solutions is currently being used within the marine, automotive, OHS & Security and resources industries.
We work directly with manufacturers, wholesalers and retailers within their industries providing tailored solutions that solve real world problems, create cost savings and business efficiencies.
The Secure2Go connectivity hardware and communications platform can be easily adapted to suit specific user requirements, distinguishing us in the market.
Go to Company Profile for: Secure2Go
Announcement Contact: [email protected]
