On 4 May 2016, both houses of the Australian parliament approved the Tax Laws Amendment (Tax Incentives for Innovation) Bill 2016. The Bill includes tax incentives for early stage investors and amendments to the venture capital regimes. Incentives for Early Stage Investors Tax incentives for entities making new investments in Australian early stage innovation companies (ESIC) are introduced, including: Entities that acquire newly issued shares in an Australian ESIC may receive a non-refundable carry-forward tax offset of 20% of the value of their investment subject to a maximum offset cap amount of AUD 200,000 - A total annual investment limit...