Issue
How do I track the Early Stage Venture Capital Limited Partnership (ESVCLP) tax offset?
Background
From 1 July 2016, there are two new non-refundable carry forward tax offsets available for SMSFs:
- Early Stage Venture Capital Limited Partnership (ESVCLP) tax offset
- Early Stage Investor (ESI) tax offset
Explanation
The ESVCLP tax credits are not refundable and the unused portion can be carried forward to the next income year.
Class currently doesn't have the ability to track this tax credit and users are required to manually track the unused proportion outside of Class.
The ATO website can provide further details: ESVCLP tax offset