News and Announcements
Tax Breaks for Investment in The Pulse IQ Pty Ltd
- Published November 27, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- ESIC ruling gives future investors generous tax benefits
Experience the Pulse has been granted Early Stage Innovation Company (ESIC) status by the Australian Taxation Office entitling its future investors to generous tax benefits.
On 1 July 2016, The Australian Government introduced favourable tax concessions for investors who support ESIC. The changes aim to encourage a culture of entrepreneurship and growth in Australia.
To qualify as an ESIC, The Pulse had to prove to the government that it had high growth potential, was able to scale, addressed a broader than local market, and had significant competitive advantages.
Investors in an ESIC are eligible for a 20 percent tax offset (capped at $200,000 per investor per year for ‘sophisticated’ investors and $50,000 for other investors) and won’t be subject to capital gains tax for 10 years on the sale of an ESIC investment held at least 12 months.
About The Pulse IQ Pty Ltd
The Pulse IQ is a world first, device-agnostic platform for the delivery of immersive and collaborative Virtual Reality content for training and education.
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