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How times are changing….no longer are financial institutions (or your parents J) the only means of raising capital.

Enter ‘crowdfunding’.  Crowdfunding is basically using social media and the internet to find people to help you raise funds for your business or project. This is becoming so prevalent that the ATO has even issued some information on the tax implications of this ever-growing industry.  The tax and GST implications vary based on what role you play in the crowdfunding (i.e. the promoter, the intermediary or the funder) – as well as what stage of the process you are in.

For further information, or if you are considering crowdfunding, click here or give us a call.

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The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.