Empowering Smes

The Finalisation of the ESIC Legislation will be a Great Boost to Many Businesses

Informações:

Sinopsis

The Australian government has finalised the legislation for the Early Stage Innovation Companies (ESICs) prior to the Parliament being adjourned for the Federal election.  Unfortunately, the legislation for Crowd Funding Equity Raising entities was still being debated in the Senate when the Senate adjourned.  Hopefully, this legislation will be finalised after the election when the Senate reconvenes.   The ESIC legislation has benefits for small/medium enterprises, sole traders, entrepreneurs and inventors who have some new innovation products, processes, services, organisational or marketing methods that wish to raise capital.  There are also significant benefits for investors via a tax rebate, based on an investor’s investment and potential CGT exemption on that investment in an ESIC.   To be an eligible ESIC, the company must have been incorporated in the last 3 years, although there are some ways that a company incorporated 6 years ago could be eligible.  The company must have incurred total expenses of l