Tax Laws Amendment (Tax Incentives for Innovation) Act 2016 (54 of 2016)

Schedule 1   Tax incentives for early stage investors

Part 2   Other amendments

Income Tax Assessment Act 1936

2   Subsection 177A(1)

Insert:

innovation tax offset means a tax offset allowed under:

(a) Subdivision 61-P (about early stage venture capital limited partnerships) of the Income Tax Assessment Act 1997; or

(b) Subdivision 360-A (about early stage investors in innovation companies) of that Act.