Accountant's Minute 170
The Senate passed the Corporations Amendment (Crowd Sourced Funding for Proprietary Companies) Bill 2017 on 12th September 2018. The legislation will be operational 28 days after Royal Assent. This means the legislation will be operational from approximately 15th October 2018.
The legislation withdraws the requirements in the original legislation that a private company had to convert to an unlisted public company to be able to raise capital from the public.
The main features of the legislation are:
The ESS BIZTOOLS’ Crowd Sourced Funding Product Package will now be updated to reflect the new legislation. We expect that the new product package will be available by 26th September 2018.
The updated Crowd Sourced Funding Product Package will automatically be included within the Gold and Silver Packages and will be available for individual subscription. The current special offer for the Silver Package, incorporating a 25% discount, is a subscription of $1,493 (plus GST) and will include the updated Crowd Source Funding Product Package. This is available until 30th September 2018.
We are presenting a special webinar on the Crowd Sourced Funding Equity Raising New Legislation for private companies on Thursday 27th September 2018 at 12.30 AEST. To register please (Click Here).
The amendments to the Crowd Sourced Funding legislation present a great opportunity for small/medium enterprises to raise capital, without having to mortgage assets or borrow funds from family members. There is also a significant opportunity for accountancy firms to create a new income stream by being proactive in offering advice for companies which are interested in raising Crowd Sourced Funding Equity.
If you have any questions on any aspect of the Crowd Sourced Funding Product Package or the ESS BIZTOOLS’ Gold or Silver Packages, please do not hesitate to contact us – firstname.lastname@example.org or telephone 1800 232 088.
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Episode 170 - Crowd Sourced Funding Amendments Passed!
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