Fintechs and early stage investor incentive : Draft Legislation release

Treasury has released an exposure draft legislation (https://treasury.gov.au/consultation/c2017-t229280) to amend provisions on the early stage investor tax concession and the venture capital regimes as they relate to fintech businesses.

In particular, the provisions amend ITAA 1997 to:

• ensure that start-up fintech businesses can access the early stage investor tax concession, the venture capital limited partnership (VCLP) and early stage venture capital limited partnership (ESVCLP) regimes, and
• make minor changes to ensure that the provisions operate as intended.

The closing date for comments is 10 November 2017.

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