• Early stage innovation company report

    This form allows early stage innovation companies to report on their investor’s qualifying investments made during a financial year. It can be used to report investments in your company from 1 July 2016.

    You can add details of up to 20 investors on each report. If you need to report more than 20 investors, you can submit the form more than once.

    Authorisation to submit the form

    To submit reports through the Business Portal, you need to have the appropriate permissions. To access the online form you need to have been granted permission in Access Manager to prepare and lodge the early stage innovation company (ESIC) report.

    To grant permissions in Access Manager, you need a myGovID and must be the principal authority or authorisation administrator in Relationship Authorisation Manager (RAM).

    You can also use an Administrator AUSkey or ManageABN Connections with Administrator access, however these services will retire at the end of March 2020.

    To update ESIC report permissions in Access Manager:

    • go to Access Manager
    • select Access and permissions under the My business heading in the left hand menu
    • select the name of the user you want to update
    • in the Permissions table under the Business tab, go to ATO transactions  
    • select Early stage innovation company report  
    • click in the relevant boxes to prepare and lodge.

    What information will I need?

    To complete this report you'll need investor details, including:

    • ABN, name and address for the investor (including the date of birth for investors that are individuals)
    • number of new shares issued to the investor
    • amount paid for the new shares
    • date the shares were issued
    • percentage of shares in the company held by the investor immediately after the shares were issued.

    How do I complete the report?

    To complete the report:

    • select online forms in the left hand menu
    • select the Early stage innovation company report from the forms listed. This form will only display if your Administrator has given the permissions in Access Manager to allow you to prepare and lodge the report.

    When the form opens, you have the option to either:

    • start a new report
    • resume or cancel a draft report
    • view or amend (update) a lodged report.

    If you're starting a new form, select the financial year from the drop down menu, and select start to create a new report.

    When completing the report:

    • enter details directly into the ESIC report, do not cut and paste content from other sources as this will result in an error
    • limit your characters to 200 when inputting information into the 'Description of the Innovation' field.

    You have the option to save and exit the form, or submit the form.

    The save function in the form allows you to save a draft and return later to view, amend or cancel the form. You can also print the form.

    When you submit the form, you'll receive an on-screen message telling you that your report has been successfully submitted. The on-screen message gives you an ATO Receipt ID.

    You can submit multiple reports for an income year (for example on each issue of new shares), or you can choose to report once a year by the 31st day after the end of your financial year.

    How do I add investors to the form?

    To add investors (up to 20) click on the Add + button against the investors field. A warning alert will display if you try to add more than 20 investors.

    If you have more than 20 investors to report, you'll need to submit the current form and start a new form for the extra investors.

    Once each investor is added, you'll be returned back to the report view.

    Note: Do not cut and paste content from other sources, as this will result in an error. Enter details directly into the ESIC report.

    How do I access a saved form?

    To access a saved form:

    • go to online forms in the left hand menu
    • select Early stage innovation company report from the list of forms (the saved form is displayed in a table with a draft status)
    • select the pen icon to access (resume) the saved form, or select the rubbish bin icon to delete the saved form.

    The form is saved for as long as you need and can be accessed any time.

    Help

    The online form has help text about general information and specific fields.

    Select the help function on the form to get help information for form content.

    See also:

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© Australian Taxation Office for the Commonwealth of Australia

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