Capital gains exemption for reinvestment in eligible companies extended to startups with reduced holding and relaxed share thresholds. Amendments modify the capital gains reinvestment exemption when net consideration is subscribed to equity of an eligible company and the company uses it to acquire new assets: for an eligible start up, the mandatory retention period on new assets that are computers or computer software is reduced; the qualifying window for residential transfers is extended to a later cut off; and the requisite post subscription share capital or voting rights the investor must hold in the company is lowered, with effect for the assessment year beginning on the amendment's effective date and thereafter.
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Provisions expressly mentioned in the judgment/order text.
Capital gains exemption for reinvestment in eligible companies extended to startups with reduced holding and relaxed share thresholds.
Amendments modify the capital gains reinvestment exemption when net consideration is subscribed to equity of an eligible company and the company uses it to acquire new assets: for an eligible start up, the mandatory retention period on new assets that are computers or computer software is reduced; the qualifying window for residential transfers is extended to a later cut off; and the requisite post subscription share capital or voting rights the investor must hold in the company is lowered, with effect for the assessment year beginning on the amendment's effective date and thereafter.
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