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Simple Agreement For Future Equity Ato

By October 8, 2021 Uncategorized No Comments

A relatively new development in the world of fundraising for start-ups is the use of “SAFE” (Simple Agreement for Future Equity) instruments. Y-Combinator, a Silicon Valley-based seed funding platform, claims to have developed it as a (potentially) standardized instrument and as an alternative to convertible bonds, which can save money and time for companies and investors. While they are becoming increasingly popular in the US market, their use was rare in Australia and can lead to quite complicated versions of the original simple instrument. The interesting question for the Australian market is: will start-ups and their investors find such attractive instruments? For early-stage start-ups, we also recommend the introduction of a concept of “dynamic splitting” known as “Slicing Pie”. In the case of a very “early” startup, it is easier to say that the values involved are not essential. But if the startup has raised other funds and therefore has a “market value” for its equity, these tax issues become much more difficult to manage. Since the maximum limit of USD 200,000 applies to his 2017-18 income year and the amounts presented, he can only claim the amount of USD 50,000, plus USD 150,000 of the 2017-18 annual amount. The balance of the 2017-18 income year ($40,000) cannot be claimed or carried forward to future years. If the person you`re spending equity on is really an “independent consultant,” that`s not a problem. However, if you are dealing with an individual (and not a company), there is a real risk that they will be considered employees and not independent consultants. This is especially true if they spend a lot of time with you and are “integrated” into your business…