Articles tagged with: Gateway Test

There is a range of services beyond taxation, that smaller accountancy firms can provide to their SME clients, to assist those businesses to grow and add value. Amanda Gascoigne, an experienced Consultant to smaller accountancy firms, together with Peter Towers, Managing Director, ESS BIZTOOLS are the presenters of the ESS BIZTOOLS’ Business Advisory Services Update Webinar/Conversation on...

Tags: Accelerating Commercialisation Grant | Gateway Test | Principles' Test | Research & Development Incentive Rebate | Selling the Message
When the then Australian Prime Minister, Malcolm Turnbull announced the Coalition Government’s Innovation Policy in December 2015 he indicated that two new types of corporate entities would be established. These entities were: Early Stage Innovation Company which required amendments to be made to the Income Tax Act Crowd Sourced Funding Equity Raising which required amendments to be made...

Tags: Gateway Test | Principles Based Test
There are a number of opportunities for accountants arising out of the Crowd-Sourced Funding legislation with the first listings on intermediaries' platforms (website) scheduled from 29th September 2017.  Now is the time to get prepared to assist your clients and prospects to be able to avail themselves of this unique opportunity to be able to raise capital from the “crowd”. At this...

Tags: Gateway Test | Principles Based Test
Accountants, you are needed in the ESIC process.  The Early Stage Innovation Company amendments to the Income Tax Act have instigated the first lot of publicity about a company which was actually going through the verification process. The company, a Perth company called Epic Delivery, had difficulty in satisfying the Australian Taxation Office that it qualified under the Principles Based...

Tags: Budgets and Cashflow Forecasts | Business Plan | Gateway Test | Information Memorandum | Principles Based Test
The Australian government has introduced legislation to assist innovative companies to be able to raise capital.  This legislation, which commenced operations from 1st July 2016, is called the "Early Stage Innovation Company".  An Early Stage Innovation Company will normally be a small/medium enterprise, an inventor who, at this stage might not even have a company or an entrepreneur.  At...

Tags: Accelerating Commercialisation | Gateway Test | Principles Based Test | Provisional Test | Section 708

Tax Incentives for Early Stage Investors

The Early Stage Innovation Company legislation offers significant taxation benefits to eligible investors. To make Early Stage Innovation Companies work there has to be investors. Investors can qualify for two major tax incentives: 1. the 20% tax offset - which is available for sophisticated investors - up to $200,000 and for retail investors up to $10,000; and 2. the capital gains tax...

Tags: Gateway Test | Principles Based Test | Provisional Test | Sophisticated Investors
In recent weeks, we've talked to you about the significant benefits that are available for new companies that have developed new products, services, marketing or organisational methodology to becoming an Early Stage Innovation Company. Today what I want to talk to you about is the benefits for investors because the government has made it very attractive for investors to invest in companies...

Tags: Accelerating Commercialisation | Early Stage Innovation Company Calculator | Gateway Test | Principles Based Test | Provisional Test
Do you remember the Deloitte report, “Digital disruption – short fuse, big bang?” a few years ago?  In that report, Deloitte stated that they believed that accountants/advisors would need to create new income streams, to assist with the challenges from digital disruption. The Australian government has helped create a new income stream, with the birth of Early Stage Innovation Company...

Tags: Digital Disruption | ESIC Calculator | Gateway Test | Principles Based Test | Provisional Test
The Early Stage Innovation Company (ESIC) legislation commences in Australia from 1st July 2016.  Unfortunately, the legislation for Crowd Funding Equity Raising was still in the Senate when the Senate adjourned for the double dissolution election.Register for our free webinar: Introducing Early Stage Innovation Companies:Wednesday 6th July 2016 at 2pm AEST. Click here  Tuesday 12th July 2016...

Tags: Budgets and Cashflow Forecasts | Business Plan | Gateway Test | Information Memorandum | Market Research | Principles Based Test