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Early Stage Test
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| Records that the company was not listed on an official stock exchange in Australia or a foreign country. | Specific confirmation from the company |
| Record of the issue date of the shares | Information from the company (e.g. date on the share certificate). |
| 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) | Letter from the company tax agent, accountant or director confirming the applicable prior year(s) consolidated income and expenditure. |
| Independent records for ASIC Incorporation or registration on the ABR | Information from the company (i.e. date of incorporation or registration). |
| 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 | Letter from tax agent, ASIC agent, company secretary, company director or lawyer. |
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Points Based Test |
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| Accelerating Commercialisation Grant under the Accelerating Commercialisation element of the Commonwealth’s Entrepreneur’s programme | 75 Points | Inclusion in the portfolio or Alumni list on the government website. |
| 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 | Letter from the company tax agent |
| The company is undertaking or has completed an eligible accelerator programme | 50 Points | Detailed advice letter from the program and independent review of the applicable program (at the time), to assess if it was an effective proxy for the principals based ESIC test, meting all the other requirements of s360-45 (1) |
| 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 | Letter from the company tax agent |
| The company has issued at least $50,000 of shares to a third party | 50 Points | Non-associate and ‘not for tax advantage’ assertions by the company. Investor meeting records 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 | Company IP reports |
| 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 | Company IP reports |
| The company has a written agreement to co-develop and commercialise an innovation with a research organization or a university | 2500 Points | Published public announcement records by the University or Research Organisation |
no