Crowd-sourced funding: was tax considered?

Graw, Stephen (2018) Crowd-sourced funding: was tax considered? Journal of the Australasian Tax Teachers Association, 13 (1). pp. 85-113.

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Abstract

The Corporations Amendment (Crowd-sourced Funding) Act 2017 (Cth) allows ‘eligible CSF companies’ to ‘crowdfund’, provided they meet the Act’s threshold eligibility and other requirements. Unfortunately, as passed, the Act excludes all proprietary companies (and most public companies) from its operation, a defect that is being rectified, at least in part, by the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 (Cth). Unlike other measures that have been introduced to assist innovative start-ups, however, neither the 2017 Act nor the present Bill provide any taxation incentives for either investors or the company. Nor do they address any of the possible tax problems that may arise because of the reform. This paper considers both the reforms and those possible issues.

Item ID: 56027
Item Type: Article (Research - C1)
ISSN: 1832-911X
Keywords: taxation; tax incentives; crowd-sourced funding; CSF; eligible CSF company; CSF intermediary; ESIC
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Copyright Information: Copyright © 2018 Australasian Tax Teachers Association
Date Deposited: 21 Jun 2019 06:09
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180125 Taxation Law @ 50%
18 LAW AND LEGAL STUDIES > 1801 Law > 180109 Corporations and Associations Law @ 50%
SEO Codes: 94 LAW, POLITICS AND COMMUNITY SERVICES > 9499 Other Law, Politics and Community Services > 949999 Law, Politics and Community Services not elsewhere classified @ 100%
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