Further to our article (here), despite Treasurer Scott Morrison introducing the legislation to extend crowdsourced equity based funding legislation to proprietary companies in September this year, it has failed to pass through parliament before the extended summer break.

This means proprietary companies won’t be able to access this form of funding until August next year at the earliest.

The introduction of these changes will be particularly important for innovative, early-stage businesses that may have difficulty accessing funding from traditional sources.

Author: Darren Pereira and Emily Booth 


Contacts:

Sydney

Darren Pereira, Partner 
T: +61 2 8083 0487 
E: darren.pereira@holdingredlich.com

Melbourne

Dan Pearce, Partner
T: +61 3 9321 9841

Brisbane

Trent Taylor, Partner
T: +61 7 3135 0668
Etrent.taylor@holdingredlich.com

Disclaimer

The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this publication is accurate at the date it is received or that it will continue to be accurate in the future. We are not responsible for the information of any source to which a link is provided or reference is made and exclude all liability in connection with use of these sources. 

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