ESIC Records Appraisal

Early Stage Test
Typically applies immediately after the shares were issued

Records that the company was not listed on an official stock exchange in Australia or a foreign country. ATO Private Ruling or company certification and independent search records of exchanges.
Record of the issue date of the shares Copy of ASIC lodgement, Detailed ASIC Extract and Original Share Certificates
The company’s and its 100% subsidiaries financial records previous financial year reports (show $1 million or less expenses and $200,000 or less in income) Up to 6 years signed prior year taxation returns and consolidated company financial statements
Independent records for ASIC Incorporation or registration on the ABR ASIC and ABR Extract
Proof that company was undertaking innovation activities solely on its own, or that the ownership structure did not defeat the purpose of ESIC concessions. The incentives may not apply to sophisticated structured ventures Illustrated Company Structure Chart and independent relational company extract and corporate structure report.

Points Based Test
You have the following proof immediately after the shares were issued

Accelerating Commercialisation Grant under the Accelerating Commercialisation element of the Commonwealth’s Entrepreneur’s programme. 75 Points Full Company Name listed in the Ministers published announcement.
At least 50 per cent of the company’s total expenses for the previous income year constitute expenses which are eligible for the tax offset for R&D activities provided under Division 355. 75 Points Up to 6 years signed prior year taxation returns and consolidated company financial statements including R&D schedule.
The company is undertaking or has completed an eligible accelerator programme. 50 Points Accelerator has favourable ATO Private of its status and the company that issued the shares has a certificate of completion in its name (not an individuals or another companies name).
At least 15 and less than 50 per cent of the company’s total expenses for the previous income year constitute expenses which are eligible for the tax offset for R&D activities provided under Division 355. 50 Points Up to 6 years signed prior year taxation returns and consolidated company financial statements including R&D schedule.
The company has issued at least $50,000 of shares to a third party. 50 Points Non-associate and ‘not for tax advantage’ declaration by the company and initial seed investor(s). Third party relational search of ASIC. Meta search and company/investor correspondence.
Within the last five years, the company has one or more enforceable rights on an innovation through a standard patent or plant breeder’s right that has been granted in Australia or an equivalent intellectual property right granted in another country. 50 Points Certified Standard Patent in the name of the company. Certificate of Plant Breeder’s Rights in the name of the company.
Within the last five years, the company has one or more enforceable rights on an innovation through an innovation patent or design right or an equivalent intellectual property right granted in another country. 25 Points Certified Innovation Patent in the name of the company. Certificate of Design Rights in the name of the company.
The company has a written agreement to co-develop and commercialise an innovation with a research organization or a university 25 Points Signed co-development agreement with a registered research organization or university.