Australia offers tax incentives

The Turnbull government in Australia introduces a bill to parliament to provide support in the form of tax incentives to entrepreneurs, startups and their investors.

The government of Australia, run by Prime Minister Turnbull, has introduced a bill to parliament to offer tax incentives to entrepreneurs and startups, according to Business Insider Australia.

The proposed bill will introduce tax incentives for early-stage investors, such as 20% non-refundable carry forward tax offset on investments in qualifying companies, capped at $200,000 per investor per year and a 10-year exemption on capital gains tax provided investments are held for 12 months or more.

Venture capital limited partners also get incentives through the bill including investors receiving a 10% non-refundable carry forward tax offset on capital invested through an early stage venture capital limited partnerships and an increase to the maximum fund size to A$200m ($149m).

The bill was introduced on the last day before the Australian government went on its seven-week break.

Australia, and the Turnbull government in particular, has been looking at ways to support entrepreneurs and startups for a while. The prime minister previously appointed Bill Ferris, co-chairman and co-founder of Champ Private Equity, as innovation czar in November 2015.

Ferris's role was to advise the government on how it can support entrepreneurs and startups.

See more from this Government Report: Australia


Copyright Mawsonia Limited 2010. Please don't cut articles from or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Benson Hill to grow with $25m series B

    March 30, 2017

  2. Kaloom makes an impact with $10.7m series A

    March 28, 2017

  3. UK to review tax breaks

    April 03, 2017

  4. STT reinforces Armor with $89m investment

    April 06, 2017

  5. Bpifrance helps engineer $24m Segex buyout

    March 28, 2017


  • 23 May - 24 May, 2017

    GCV Symposium 2017 - London

    Join 400+ business leaders from the corporate venturing and wider high growth business ecosystem for the two-day 2017 GCV Symposium.

  • More Events