Review of taxation arrangements under the Venture Capital Limited Partnership regime

The Chair of the Board of Taxation, Mrs Teresa Dyson, today welcomed the Government’s announcement  that the Government has agreed with the recommendations contained in the Board of Taxation’s report on its review of the taxation arrangements under the Venture Capital Limited Partnership (VCLP) regime.  

The Board made three recommendations that seek to improve the operation of the Venture Capital Limited Partnership and Early Stage Venture Capital Limited Partnership regimes in accordance with their policy objectives of increasing investment in high-risk, start-up and expanding businesses in the Australian venture capital sector.  The Government has agreed with all three recommendations, with one sub-recommendation agreed in principle.

The Chair expressed her thanks to those who contributed to the review, including the individuals and organisations that participated in the Board’s consultation forums and made submissions, members of the Board’s working group chaired by Mr John Emerson AM, members of the Board’s expert panel (Mr Andrew Mills, Ms Karen Payne and Mr Ken Woo), officers of the Treasury, the Australian Taxation Office, the Department of Innovation, Industry, Science and Research, and the staff of the Board’s Secretariat.

The Board’s report on its review of the taxation arrangements under the VCLP regime is available from the Board’s website at www.taxboard.gov.au.