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