Startup deduction permits full tax relief for profits of eligible businesses for consecutive assessment years within the incorporation window. A qualifying company or LLP engaged in an eligible business may elect to claim a full deduction of profits from that business for three consecutive ... Summary
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Startup deduction permits full tax relief for profits of eligible businesses for consecutive assessment years within the incorporation window.
A qualifying company or LLP engaged in an eligible business may elect to claim a full deduction of profits from that business for three consecutive assessment years within the prescribed post incorporation window, subject to turnover limits, certification by the Inter Ministerial Board, exclusions for reorganisations or transfer of previously used machinery (with limited exceptions), and procedural provisions of section 80 IA as applied to start ups.
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