New benefits for early-stage investors
High net worth investors and early-stage companies in Australia are eligible for funding and new tax incentives of up to $200,000 a year through the Early Stage Innovation Companies (ESIC) Hub — a new online platform aimed at boosting early-stage investment.
ESIC Hub is the first platform of this type in Australia aimed specifically at HNW investors, according to founder, Stephen Crowe, who said capital had recently begun to shift towards ESIC, such as those eligible to use the platform.
"These new incentives mean early-stage companies wanting capital must tick the right boxes in terms of their structure and investors must fund early-stage companies with their eyes wide open," he said.
Self-managed super funds (SMSFs) are also eligible, with the platform also open to non-Australian residents. Investors who do not fall into the HNW category cannot invest more than $50,000 in a qualifying ESIC within one income year to be eligible for the tax benefits.
Crowe said that in order to qualify for tax savings, investors need to have obtained a qualifying ESIC certificate issued by a qualified, independent tax expert at the initial time of their investment.
AUTHOR
Hope William-Smith
Recommended for you
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
Perpetual has confirmed it has entered into an exclusivity agreement with a US private equity firm to progress discussions regarding the sale of its wealth management division.
Paradice Investment Management has become the latest fund manager to launch an active ETF version of its managed fund, placing greater emphasis on retail distribution.
