The Australian Government has released draft legislation and explanatory material for public consultation regarding amendments to the Tax Incentive for Early Stage (angel) Investors and the Venture Capital Limited Partnership and Early Stage Venture Capital Limited Partnership regimes.
The Federal Treasurer, Scott Morrison, said the amendments will ensure that investments in FinTech businesses can access support under each program and rectify a number of minor technical issues.
He said the proposed amendments will ensure the tax measures operate consistently with their policy intent and continue to provide generous and effective support to innovative Australian companies.
The exposure draft legislation and explanatory materials are available on the Treasury website, and interested stakeholders are encouraged to provide their views by Friday 10 November 2017.
Submissions can be emailed to innovationamendments@treasury.gov.au during the consultation period.