Who can use EIS?

Are you wondering who has the eligibility to utilize the Early Stage Innovation Scheme, or EIS? Well, let me clarify for you. The EIS is designed to provide financial support to innovative startups and small businesses in their initial growth stages. It's a tax incentive program that encourages investors to fund these promising ventures. To qualify, typically, the company must be an Australian resident and in its early stages of development, with a focus on developing new products, services, or processes. Additionally, the company's turnover and assets are subject to certain limits. Investors, on the other hand, must meet specific criteria to be eligible for tax reliefs under this scheme. So, if you're an innovative startup looking for funding or an investor considering supporting such ventures, the EIS might be worth exploring. But do ensure you meet the necessary criteria before proceeding.