{"id":42217,"date":"2023-10-20T15:19:36","date_gmt":"2023-10-20T15:19:36","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/the-governments-new-startup-tax-incentives-have-been-revealed-startupsmart\/"},"modified":"2023-10-20T15:19:36","modified_gmt":"2023-10-20T15:19:36","slug":"the-governments-new-startup-tax-incentives-have-been-revealed-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/the-governments-new-startup-tax-incentives-have-been-revealed-startupsmart\/","title":{"rendered":"The government\u2019s new startup tax incentives have been revealed &#8211; StartupSmart"},"content":{"rendered":"<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"379\" itemprop=\"image\" class=\"entry-thumb\" src=\"\/wp-content\/uploads\/2016\/02\/turnbull-640x379.jpg\" alt=\"Prime minister malcolm turnbull\" title=\"turnbull\"><\/div>\n<p>The federal government has introduced a range of new tax incentives to parliament aimed at encouraging further investment in early-stage startup ventures.<\/p>\n<p>The startup tax incentives, initially announced as part of <a href=\"\/advice\/growth\/innovation\/malcolm-turnbull-unveils-1-billion-innovation-statement\/\">December\u2019s $1 billion innovation statement<\/a>, will \u201chelp to drive investment, economic growth and jobs in our transitioning economy by encouraging innovation, risk taking and an entrepreneurial culture in Australia\u201d, Treasurer Scott Morrison says in a statement.<\/p>\n<p>\u201cThe government has been listening carefully to stakeholders during the development of these measures,\u201d Morrison says.<\/p>\n<p>\u201cWe have consulted widely with investors, industry bodies, universities and the startup community to incentivise innovation and reward greater risk taking while also maintaining the integrity and sustainability of the tax system.\u201d<\/p>\n<p>The Tax Laws Amendment (Tax Incentives for Innovation) Bill 2016 provides \u201cconcessional tax treatment to investors to promote investment in innovative, high-growth potential startup companies\u201d.<\/p>\n<p>The bill will be introduced into Parliament on Thursday.<\/p>\n<p>It includes a 20% tax offset on investments in these qualifying companies, with a cap of $200,000 per year, per investor.<\/p>\n<p>A 10 year exemption from the capital gains tax will also be available for investment held for more than a year.<\/p>\n<p>The amendments also include changes to Early Stage Venture Capital Limited Partnerships (ESVCLPs), with the maximum fund size for new and existing ESVCLPs increased to $200 million.<\/p>\n<p>Investments through an ESVCLP will also receive a 10% carry forward tax offset.<\/p>\n<p>A discussion paper <a href=\"\/advice\/legal\/governments-proposal-to-lock-small-investors-out-of-startup-tax-incentives-branded-ridiculous\/\">released early this month on the tax incentives included controversial aspects<\/a> such as the definition of an \u201cinnovation company\u201d and the possibility to limit the concessions to only \u201csophisticated\u201d investors.<\/p>\n<p>It\u2019s currently unclear whether these measures are included the government\u2019s final amendments.<\/p>\n<p><em>Follow StartupSmart on Facebook, Twitter, LinkedIn and SoundCloud.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government has introduced a range of new tax incentives to parliament aimed at encouraging further investment in early-stage<\/p>\n","protected":false},"author":2,"featured_media":60461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42217"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=42217"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60461"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=42217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=42217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=42217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}