Encouraging innovation? assessing subdivision 360-A's tax incentives Stephen Graw
By: Graw, Stephen
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Material type: 
ArticlePublisher: 2019Subject(s): INVERSIONES EMPRESARIALES | INNOVACIÓN | INCENTIVOS FISCALES | AUSTRALIA
In:
Australian Tax Forum: a journal of Taxation Policy, Law and Reform v. 34, n. 2, 2019, p. 233-275Summary: Data from tax returns lodged in 2016-17, the first year in which Subdiv 360-A's tax incentives for investments in early stage innovation companies were available, shows that approximately $300m was invested in some 340 early stage innovation companies by a total of around 3400 'angel investors'. The data does not however indicate how much of that was invested because of the tax incentives and how much would, in all probability, have been invested anyway. The incentives, a non-refundable carry-forward tax offset of 20% of the value of the investment (up to a maximum tax offset cap of $200,000) and a 'modified CGT treatment' (which disregards any capital gains realised when the shares are disposed of - provided they have been held for between one and ten years), are, on their face, generous.
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Resumen.
Data from tax returns lodged in 2016-17, the first year in which Subdiv 360-A's tax incentives for investments in early stage innovation companies were available, shows that approximately $300m was invested in some 340 early stage innovation companies by a total of around 3400 'angel investors'. The data does not however indicate how much of that was invested because of the tax incentives and how much would, in all probability, have been invested anyway. The incentives, a non-refundable carry-forward tax offset of 20% of the value of the investment (up to a maximum tax offset cap of $200,000) and a 'modified CGT treatment' (which disregards any capital gains realised when the shares are disposed of - provided they have been held for between one and ten years), are, on their face, generous.
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