The early stage innovation company (ESIC) decision tool will help you work out if:
- you're eligible for the tax offset
- a company qualifies as an ESIC.
This calculator provides results based on your responses to the questions. If you would like to work out your eligibility for the offset for shares that haven't yet been issued, you'll need to answer the questions on the basis of the circumstances that you anticipate will exist immediately after the issue of the shares (the test time). However, eligibility for the tax offset will ultimately depend on the facts and circumstances at the test time.
Since the ESIC legislation only started on 1 July 2016 and contains new tax policy, you shouldn't rely on this decision tool alone. If you answer any of the questions in the tool incorrectly, you may still be subject to tax penalties if you incorrectly claim the ESIC tax offset. You're advised to seek professional advice to confirm your facts and circumstances, or the facts and circumstances of the company, to help you answer the questions in the decision tool.
You won't be able to use this decision tool to determine the ESIC status of companies which use a substituted accounting period. The tool can only be used to determine the ESIC status of companies with a normal balance date of 30 June.
The ESIC decision tool will help you work out whether you're eligible for the early stage investor tax offset, or if a company qualifies as an early stage innovation company.