Tax Incentives for Innovation Bill Introduced to Parliament

Today I received notification from Treasury that the Tax Incentives for Innovation Bill had been introduced to Federal Parliament. This was following a submission I made on behalf of Techboard to the recent Treasury consultation on the tax incentives pushing for a number of changes to the approach that had been advocated in the Treasury discussion paper including the removal of a suggestion that the tax incentive only be available to sophisticated investors. I have skim read parts of the Bill and Explanatory Memorandum and am pleased to report that retail investors will be able to access the Tax incentive, with some limitations including a $50,ooo limit on the amount that would be eligible.

We will be looking at the Bill in more detail and will report back soon.Screen Shot 2016-03-16 at 3.27.50 PM

If you want to read the First Reading version of the Bill and Explanatory Memorandum. Head over to Parliament’s Website Here.



Peter van Bruchem

Chief Startup Evangelist


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