TAX and COMPLIANCE
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      2. TAX and COMPLIANCE

      As an ESIC what / when do I need to report to the ATO?

      You need to lodge an Early Stage Innovation Company Report on or before the 31st of July each year, including all the details required in relation to the shares you issued in the prior year.

      Lodgement is made via the your Tax Agent or the Business Portal. To complete the lodgement you need investor details, including: 

      - ABN, name and address for the investor (including the date of birth for investors that are individuals) 
      - number of new shares issued to the investor 
      - amount paid for the new shares 
      - date the shares were issued 
      - percentage of shares in the company held by the investor immediately after the shares were issued

       

      You will also need to confirm the basis for the companies ESIC claim, being either the 100-point innovation test or the Principals-based innovation test.

       

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