The Australian Taxation Office (ATO) has launched a consultation on the tax incentives for investments in Australian early stage innovation companies. The incentives include a non-refundable carry forward tax offset based on the investment amount and modified capital gains tax treatment, under which capital gains on qualifying shares may be disregarded. The incentives were introduced as part of the Tax Laws Amendment (Tax Incentives for Innovation) Act 2016 ({News-2016-05-10/A/2- previous cov…