Capital Raising
Three measures have been announced that will assist various businesses seeking to raise capital:
  • Expanded tax incentives for early-stage investors into Australian Early Stage Innovation Companies.  These changes are to apply from 1 July 2016.
  • New Collective Investment Vehicles, similar to managed investment trusts, bringing Australia in line with structures commonly offered overseas.  This change is to apply from 1 July 2017.
  • Changes to the taxation of asset backed financing to give the same tax treatment as conventional financing.  This measure will apply from 1 July 2018.

Wine Equalisation Tax (WET) rebate cap reduced

From 1 July 2017 the WET rebate will be reduced from $500,000 to $350,000 and then be further reduced to $290,000 on 1 July 2018.
A tightened eligibility criteria will apply from 1 July 2019 under which a wine producer must own a winery and sell packaged or branded wine domestically.

Tobacco Excise

Tobacco excise and comparable customs duties will increase by 12.5% each year for the next four years.

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