AVCAL has submitted its responses to the new R&D tax incentive exposure draft and explanatory materials released by the Treasury.

AVCAL today submitted its responses to the Australian Tax Office draft determinations TD 2009/17 and TD 2009/D18, which were made available for public comment on 16 December 2009. Read the media release and responses here.

Read AVCAL's submission to Treasury on Tax laws Amendment (2010 Measures No.1) Bill 2010: MIT capital treatment.

Read AVCAL's submission to Treasury in response to the Treasury discussion paper on tax treatment of Managed Investment Trusts (MITs).

Read AVCAL's submission to the Board of Taxation on Limited Partnership structures

Read AVCAL's submission in response to Treasury's request for comment on the “Reform of the Taxation of Employee Share Schemes”

Read AVCAL’s submission to the AFCF, a panel of independent experts gathered by the Government to examine the barriers to improving Australia's regional competitiveness in the financial services sector.

Read AVCAL's submission to the Board of Taxation on the tax treatment of gains derived from managed funds.

The combination of Commercial Ready Grants with Venture Capital funding has played an important role in the success of many Australian technology firms. Venture Capital assists with the market challenges of financing early stage entities and there is an additional need for programs such as Commercial Ready to close the funding gap. It is necessary for Australia to continue to produce innovative companies into the 21st century. The mining boom will not last forever. The removal of Commercial Ready will impede many businesses from commercialising their innovation and will prohibit the creation of numerous successful enterprises to support the Australian economy.

AVCAL is the voice of the Australian Venture Capital (VC) industry, with the great majority of VC funds as members. AVCAL has canvassed these VC members, through both a formal survey and from feedback gathered by VC Representatives on its Council, to prepare this submission. The foundation of this submission is the indisputable fact that VC underpins a significant proportion of innovation in Australia, particularly in enabling emerging companies to achieve sustainability. The VC industry, with its measured appetite for risk, is often the only substantial financing mechanism that early stage companies can access. Coupled with Government grants,VC investment is vital to national innovation.