Australia’s Support of Early-Stage Businesses Lagging

Australia is lagging the US, UK and Japan on key fintech tax concessions. Australia’s early-stage venture capital limited partnership scheme currently offers a 10 percent tax offset to investors. Similar incentive schemes in the US offer up to 100 percent tax offset for early stage fintech investors depending on the State where the investment is located, while the UK’s investment scheme offers an up to 50 percent tax offset. Early stage fintech investors in Japan are offered a 25 percent offset for investing in early-stage companies. We have some super fintech and insurtech entrepreneurs and we should be doing more to support them by improving the incentives to invest. Let’s face it, we simply do not have the depth and breadth of VC support that the US, the UK and Japan have. The tax incentive regime isn’t helping. Read more

Source: Fintech Business