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It is an exciting time for Australian equity market participants with a new crowd-sourced funding (CSF) regime due to commence on Friday 29 September 2017.  CSF, in essence, involves raising funds, usually through an online intermediary, from a large number of people who each make relatively small financial contributions. Australia’s new regime, introduced in Pt 6D.3A of the Corporations Act 2001 (Cth), provides a regulatory framework to enable CSF. Initially the CSF regime will only…
The Murray Report  describes certain tax distortions in relation to start-ups and notes the need for better targeted tax settings to facilitate innovation, acknowledgement of the barrier to fundraising caused by existing tax uncertainty around venture capital limited partnerships and recognition of the benefits of more flexible access to R&D tax offsets. The Report cites stakeholders as suggesting that Australia is already lagging other jurisdictions in the facilitation of crowdfunding, meaning time is of…